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.
