The Federal Communications Commission Thursday approved the transfer of DirecTV's satellite and earth station licenses to Liberty Entertainment.
The FCC approved Liberty anounced in September it planned to split off into a separate company Liberty Entertainment, the tracking stock that includes its Starz Entertainment premium network, its stake in satellite TV giant DirecTV, and other interests.
The FCC said Thursday that the transfer of licenses from Liberty properties DirecTV, California Broadcast Center and Game Show Network to Liberty Entertainment Inc., was in the public interest and that the new company -- including DirecTV -- would be held to the same conditions it applied when it approved Liberty's purchase of DirecTV.
"The complexities associated with a tracking stock structure and should facilitate a more accurate valuation of the relevant businesses and assets," the FCC said. "Moreover, we discern no public-interest harms arising from this transaction," the commission concluded.
Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.
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