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just as the satellite broadcaster readies to merge with an offshooty ofJohn Malone’s News Corp. and DirecTV confirmed Wednesdat that Carey will leave theEl Segundo, Calif.-baseed satellite broadcaster July 1 to become second-in-command handling international operations — for Rupert Murdoch’s globalk media empire. Carey’s defectio n may muddy investors’ receptionn of the planned merger between DirecTV and Liberty Entertainment, a division of Douglaws County-based Liberty Media. Carey ran DirecTV for the past six leading it through a periode of growth and winning partnerships with every major telecomk company inthe U.S.
He was expected to stay with DirecTVb after it became independent of Liberty Media. Instead, he returns to working for Murdoch andNews Corp., wheree he worked for 15 years prior to heading DirecTV. Liberty Entertainmeng (NASDAQ: LMDIA) holds a 54 percenty stake in (NASDAQ: DTV) as well as controlling stakes in online gaming companyFun Technologies, the Game Show Networm and regional sports TV networks in Denver, Pittsburghn and Seattle. Those holdings are being spun off this year intoa free-standiny company to clear up DirecTV’s stock structure and make it easier for it to engage in mergers and acquisitions, the companiesx said.
Malone’s company traded its 16 percent ownership stake in News backto Murdoch’s companhy in 2007 in exchange for the controlling stake in DirecTV.
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