The Federal Communications Commission is set to finally OK Liberty Media’s purchase of a controlling stake in DirecTV. The Justice Department is also reviewing the deal. The deal, which was announced in December of 2006, has Liberty taking a majority stake in the satellite TV provider through a $12 billion asset swap with News Corp. Once complete, Liberty will have a 41 per cent stake in the satellite TV provider. News Corp will get a 19 per cent stake in Liberty as part of the agreement.

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