An independent report shows that if the Liberty Media deal is approved at a special meeting next month, Rupert Murdoch will get even more control of News Corp. (NWS-A).
If the deal goes through, independent expert Grant Samuel said that it would pretty much be impossible for any third party to initiate a takeover bid for the company.
For those not familiar with this, because News Corp. is listed on the Australian Stock Exchange, its rules dictate that an independent expert provide a report on the transaction. News Corp.'s headquarters is in Delaware and so no such rules apply to them from that part of the picture.
With the sale of Liberty Media, and John Malone being taken out of the mix as a result, the Murdoch family share in News Corp. would increase from 31.2 percnet to 38.6 percent, with the potential to reach 41 percent in the recently announced 
buyback program.
Under Delaware Law, the Murdochs could increase their stake in the company to over 50 percent and not have to make an offer to shareholders or pay a premium to gain control.
While Samuel mentions these potential consequences, he added that the offer to exchange the 38 percent stake in DirecTV (DTV), three regional sports networks plus $745.8 million in cash for Liberty's 16.2 percent stake in News Corp., was "fair and reasonable."
"Mr Murdoch has been a powerful influence on the company for over 50 years," it said in the report. "It appears that most investors who invest in News Corp do so because they are backing Mr Murdoch's management and vision for the company and seem comfortable with his level of control."
There are some that think this is all connected to an eventual succession plan that will be transferred to the Murdoch family as Rupert Murdoch transferred $618 million in News Corp. stock to his six children last month. That may or may not be true. It could be that he did it because he believes the stock will be rising significantly and transferred it for tax advantages rather than succession plans.
Either way, the family will have a larger oveall stake in the company if the Liberty deal is confirmed.
Comment Preview