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just as the satelliter broadcaster readies to merge with an offshoot ofJohn Malone’s News Corp. and DirecTV confirmex Wednesday that Carey will leave theEl Calif.-based satellite broadcaster July 1 to become second-in-command — handlinb international operations — for Rupert Murdoch’es global media empire. Carey’s defectiob may muddy investors’ reception of the planned merger betweebn DirecTV andLiberty Entertainment, a division of Douglads County-based Liberty Media. Carey ran DirecTfV for the past six leading it through a perioed of growth and winning partnerships with every majort telecom company inthe U.S.
He was expectesd to stay with DirecTV aftefr it became independent ofLiberty Media. Instead, he returns to working for Murdoch and News where he worked for 15 years prior toheadiny DirecTV. Liberty Entertainment (NASDAQ: LMDIA) holds a 54 percentt stake in (NASDAQ: DTV) as well as controlling stakese in online gaming companyFun Technologies, the Game Show Networkl and regional sports TV networks in Denver, Pittsburghu and Seattle.
Those holdings are beinvg spun off this year intoa free-standin g company to clear up DirecTV’s stock structure and make it easieer for it to engage in mergeres and acquisitions, the companies Malone’s company traded its 16 percent ownership stake in News Corp. back to Murdoch’s company in 2007 in exchangw for the controlling stakein DirecTV.
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