Liberty Entertainment Ups Stake in DirecTV

Its ownership rises to 48% from 41%.
Author:
Publish date:

Updated from 4/03/08

Liberty Entertainment

(LMDIA)

said Thursday it has increased its ownership in

DirecTV

(DTV)

, news that sent both stocks higher.

Liberty said it has upped its interest in the digital satellite television operator by 78.3 million shares, increasing its ownership in DirecTV to approximately 48% from 41% previously. Liberty Media was higher by 35 cents, or 1.5%, to $23.47. Shares of DirecTV were rising 40 cents, or 1.5%, to $26.40.

Time to Tune In to Liberty Entertainment

var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 1486989724; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8);

"The additional shares and equity collar each increase our exposure to DirecTV's equity and further align Liberty's interests with those of the DirecTV shareholders," said Greg Maffei, Liberty's president and CEO.

Know What You Own

: DTV operates in the cable services industry, and some of the other stocks in its field include

Charter Communications

(CHTR) - Get Report

,

Comcast

(CMCSA) - Get Report

and

Dish Network

(DISH) - Get Report

. These stocks were recently trading at $0.91, +0.73%, $20.29, -0.73% and $29.59, -1.07% respectively. For more on the value of knowing what you own, visit TheStreet.com's

Investing A-to-Z

section.