For the love of Pete.
Read
this.
Snippets:
EL SEGUNDO, Calif.,
Jun 16, 2010 (BUSINESS WIRE) -- DIRECTV (NASDAQ
TV) today announced that it has consummated the previously announced transaction with Dr. John C. Malone to recapitalize the DIRECTV stock ownership held by Dr. Malone, his wife and two trusts for the benefit of his children. Under the terms of the agreement, the Malones exchanged 21,809,863 shares of Class B common stock of the Company, which is all of the outstanding Class B shares, for 26,547,624 shares of Class A common stock,
resulting in the reduction of the Malones' voting interest in DIRECTV from approximately 24.3% to approximately 3%. All of the Class B shares will be cancelled.
As part of the transaction, Dr. Malone resigned as Chairman and he, Paul A. Gould and Gregory B. Maffei resigned as members of the Board of Directors.
Anyone care to try again? This is the third time I've posted this to THIS thread.