Rupert Murdoch's News Corp will sell its stake in Sky Latin America to DirecTV Group, another company it controls, for $579m in order to consolidate operations of the two satellite broadcasters.
DirecTV shares rose 2 per cent after it announced the long-awaited deal aimed at bolstering DirecTV Latin America, which is 86 per cent owned by DirecTV and Sky Latin America, by consolidating the two into a single platform in each of the major territories served in the region.
