Explaining the rationale for an $11 billion share swap that involves the sale of DirecTV to Liberty Media, News Corp. told the Securities and Exchange Commission (SEC) that the transaction would enable News Corp. to focus on “faster growing” assets that have “more strategic value.” News Corp. made the disclosure in a proxy statement that was filed with the SEC on Monday. In exchange for transferring its 38.5% holding in DirecTV and three regional sports networks to Liberty, News Corp. would acquire the 17% stake held by Liberty in News Corp. Although DirecTV has signed a resale agreement with WildBlue that gives DirecTV customers in rural markets access to satellite-based Internet services, News Corp. asserts that direct broadcast satellite providers are unable to bundle video offerings with high-speed Internet services “at a reasonable price” that would make satellite operators competitive with carriers that offer triple-play packages of voice, video and broadband services to customers. Noting that “synergies originally envisioned” when News Corp. acquired DirecTV in 2003 have “already been realized or are no longer significant,” News Corp. proclaimed that the proposed share swap with Liberty eliminates “distraction and uncertainty.”