 The deal, valued at $11 billion, was approved by News Corp. shareholders in April 2007.Following revisions that increased the cash offer to $625 million in exchange for a reduction of Liberty's divested interest in News Corp. to 16%, the swap was completed on February 27, 2008 following Federal Communications Commission (FCC) approval.One condition placed by the FCC on the deal was that Liberty divest either its DirecTV operations or Liberty Global's cable operations in Puerto Rico, which Liberty fulfilled by placing DirecTV's Puerto Rican operations in a trust.