Rupert Murdoch has pulled off the long-awaited $US11 billion ($A14 billion) asset-swap deal with Liberty Media that effectively gives his family bulletproof control of the media group News Corporation.
After months of wrangling with Liberty's chairman, John Malone, Mr Murdoch has agreed to swap News Corp's 38.5 per cent stake in the US satellite broadcaster DirecTV and $US1 billion of other assets for Liberty's 16.3 per cent economic stake in News Corp.
For the 75-year-old Mr Murdoch, the significance of the deal is that it removes Mr Malone from the News Corp share register, eliminating the biggest threat to his family's control.
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Murdoch reaches rapprochement with Malone
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