WASHINGTON-
News Corp. said Monday that director Chase Carey told the media company he plans to resign from the board once News Corp. and Liberty Media Corp. complete their planned $11 billion asset swap.
Carey is the president and chief executive of DirecTV Group Inc.
News Corp. is set to trade $588 million and its stake in DirecTV Group for Englewood, Colo.-based Liberty’s 16.3 percent stake in News Corp.
News Corp. shareholders have approved the deal, but the swap still needs approval from the Federal Communications Commission.
News Corp. said in a Securities and Exchange Commission filing that Carey’s resignation isn’t the result of any disagreement with the company.
Shares of New York-based News Corp. rose 8 cents, or 0.3 percent, to $24.97 in early afternoon trading Monday on the New York Stock Exchange.
