Liberty Media’s proposed purchase of a controlling stake in DirecTV Group cleared its last major regulatory hurdle Tuesday as U.S. antitrust officials said they won’t block the $12 billion deal.
An investigation didn’t support action against the transaction, Justice Department spokeswoman Gina Talamona said.
Liberty, controlled by chairman John Malone, won approval from the Federal Communications Commission on Monday for DirecTV shares to be transferred from News Corp. Liberty gets a 41 percent stake in the largest U.S. satellite-television provider. In return, News Corp., led by chairman Rupert Murdoch, is buying back the 19 percent stake held by Liberty.
Liberty spokesman John Orr said earlier this week that the deal would close either hours or a day after all the regulatory approvals.
The FCC put conditions on the deal, requiring Malone to sell one of the two TV services he controls in Puerto Rico or insulate himself from the day-to-day management there.
DirecTV, based in El Segundo, Calif., had about 16.8 million U.S. subscribers as of Dec. 31. DirecTV rose 13 cents to $26.29 Tuesday in Nasdaq Stock Market trading.
Liberty Capital, one of two tracking stocks issued by Douglas County-based Liberty Media, fell 22 cents to $117.35.
