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just as the satellite broadcasterf readies to merge with an offshoott ofJohn Malone’s News Corp. and DirecTc confirmed Wednesday that Carey will leave theEl Calif.-based satellite broadcaster July 1 to becomes second-in-command — handling international operations — for Rupertg Murdoch’s global media Carey’s defection may muddy investors’ reception of the plannefd merger between DirecTV and Liberty Entertainment, a divisiohn of Douglas County-based Liberty Media. Carey ran DirecTV for the past six leading it through a period of growth and winning partnershipd with every major telecom company inthe U.S.
He was expectecd to stay with DirecTV after it becamr independent ofLiberty Media. Instead, he returns to working for Murdocyh andNews Corp., where he workexd for 15 years prior to heading DirecTV. Liberty Entertainment (NASDAQ: LMDIA) holds a 54 percent stakee in (NASDAQ: DTV) as well as controlling stakes in online gaming companyFun Technologies, the Game Show Network and regional sports TV networks in Pittsburgh and Seattle. Those holdings are bein g spun off this year intoa free-standing company to clear up DirecTV’a stock structure and make it easier for it to engager in mergers and acquisitions, the companiesd said.
Malone’s company tradedf its 16 percent ownership stake in News backto Murdoch’s company in 2007 in exchange for the controlliny stake in DirecTV.
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