Liberty Media sees benefit to buying all of DirecTV

SUN VALLEY, Idaho (Reuters) - Liberty Media (LCAPA.O: Quote, Profile, Research, Stock Buzz) sees benefits in buying all of DirecTV Group Inc. DTV.N and spinning off the top U.S. satellite television provider into another tracking stock, CEO Greg Maffei said.

Liberty, controlled by cable pioneer John Malone, is set to take a roughly 40 percent stake in DirecTV through an asset swap with News Corp. (NWSa.N: Quote, Profile, Research, Stock Buzz) and analysts have speculated that it may want to buy the rest of the company.

DirecTV "is a good business and having access to those cashflows, being able to have it operate synergistically with our content businesses can be attractive under the right conditions," Maffei told Reuters on the sidelines of the 25th annual media and tech moguls conference in Sun Valley, Idaho.

The Liberty chief executive said the company had not made a decision on what it plans to do yet and suggested that it could "liquidate its position" in DirecTV as well.

Citigroup analyst Jason Bazinet said this week there was a 75 percent chance that Liberty would buy all of DirecTV at $30 per share within 12 months, in a report that sent shares of the satellite TV operator up more than 2 percent on Tuesday.

Maffei said spinning off DirecTV's assets into a tracking stock for Liberty would benefit potential investors seeking to invest more directly into particular assets.

Liberty has been criticized by Wall Street for its complex structure. In recent years, Malone and Maffei have sought to simplify by converting Liberty's myriad passive stakes in companies including Time Warner Inc. (TWX.N: Quote, Profile, Research, Stock Buzz) and News Corp.

Malone's company swapped its shares in News Corp. to gain the controlling stake in DirecTV.

"It makes sense to give investors a way to invest in those assets directly rather than the pile of companies," Maffei said about the possible spinoff of DirecTV as a tracking stock.