News Corp., Liberty Media reach deal

Media barons Rupert Murdoch and John Malone ended a two-year battle Friday with Liberty Media agreeing to swap an $11 billion stake in News Corp. for control of satellite TV provider DirecTV and other assets.

The deal will secure Murdoch's grip on News Corp., the global media empire he founded from a single newspaper in Australia. It also will mark the return of Malone's Liberty Media as a major player in U.S. television programming and distribution.

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