As most of us probably expected, the FCC could not find any real reason to stop News Corporation taking control of DirecTV, and it duly announced its approval in the dying days of 2003 and the deal has now been completed. The FCC decisions was pretty much the final hurdle to the $6.6 billion takeover and it represents the achievement of a lifetime dream for Rupert Murdoch, founder and CEO of News Corp. The approval came on December 19 and three days later the deal was closed and now News Corp owns 34% and management control of Hughes Electronics Corporation, the owner of DirecTV. After completion of the transaction, News Corporation transferred the ownership in Hughes to the US based…