Calif. – Liberty Media (NASD: LINTA) head John
Malone will step down as chairman of satellite TV provider DirecTV (NYSE: DTV) as part of
an agreement that aims to meet an ownership condition placed by the FCC,
PaidContent reports. The deal, which still requires FCC approval, will also see
Malone’s voting interest in DirecTV reduced to about 3% from 24.3%.