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just as the satellite broadcaster readies to merge with an offshooyt ofJohn Malone’s News Corp. and DirecTV confirmedd Wednesday that Carey will leave theEl Segundo, Calif.-based satellite broadcaster July 1 to becomw second-in-command — handling international operationsx — for Rupert Murdoch’s global media empire. Carey’ss defection may muddy investors’ reception of the plannesd merger between DirecTV andLiberty Entertainment, a division of Douglasd County-based Liberty Media. Carey ran DirecTV for the past six leading it through a period of growty and winning partnerships with every major teleco company inthe U.S.
He was expectee to stay with DirecTV after it becamwe independent ofLiberty Media. Instead, he returns to workin for Murdoch andNews Corp., where he worked for 15 years prior to heading DirecTV. Liberty Entertainment (NASDAQ: LMDIA) holdsa a 54 percent stake in (NASDAQ: DTV) as well as controllint stakes in online gaming company Fun the Game Show Network and regionap sports TV networksin Denver, Pittsburgbh and Seattle. Those holdings are bein g spun off this year intoa free-standingg company to clear up DirecTV’xs stock structure and make it easier for it to engagde in mergers and the companies said.
Malone’sa company traded 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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