All Hail: King Rupert just got even more Kinglier

-SHOMARI HINES Rupert Murdoch may have finally gotten John Malone off his back for good. Rupert and Malone's camp agreed some months ago that they would do a swap deal which would see John Malone's Liberty Media taking control of Direct TV in exchange for Liberty's very threatening 16.3 percent stake in News Corp. The exchange will fluff up the Murdoch family’s stake in the News Corporation to 38 percent, from 31 percent, resulting in worry free days and nights and care free walks without having to look over their backs. “Murdoch solidifies his family’s voting control and helps the stock with the huge effective share buyback,” said David C. Joyce, an analyst at Miller Tabak & Company in New York. The transaction, which needs approval from the Federal Communications Commission, may be completed by midyear, the companies said in December.Liberty will get a 38.5 percent controlling stake in DirecTV, the largest American satellite TV company, and three local Fox sports channels. Liberty will also receive $588 million in cash, up from $550 million under the initial December agreement. Hmm, wonder how long FCC Chairboy Kevin Martin will take on this one? News Corp. Shareholders Accept Liberty Deal [NYT]