Liberty's DIRECTV Economic Stake Jumps Past 49 Percent
Given that DIRECTV continues its share buyback efforts, Liberty Media's economic stake in the DBS giant continues to grow.
Due to the DIRECTV share buyback, Liberty Media said its economic ownership in DIRECTV has increased to more than 49 percent. Because of a stand-still agreement between the companies, Liberty said its voting control in the small dish company remains at 48 percent.
Liberty Media's interest in DIRECTV is contained in the Liberty Entertainment group. Second quarter revenue for that Liberty tracker jumped 32 percent and adjusted OIBDA increased 13 percent, the company said.
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