• by David Goetzl  @dgoetzl, April 4, 2008

Only weeks after taking over News Corp.'s stake in DirecTV, Liberty Media has increased its ownership to just under 50%, another signal that it may look to cross that barrier and go far beyond.

Liberty's nearly $2 billion purchase of some 78 million additional shares raises its stake in the satellite operator to 48%, up from the 41% it acquired in a swap with News Corp. in late February. In that deal, Liberty exchanged its 16% stake in the Rupert Murdoch-led company for the DTV position, three regional sports networks and cash.

Late last year, CEO Greg Maffei raised the possibility that Liberty might move aggressively to up its stake in DTV once it took over from News Corp. "It may make more sense to be a larger owner, either with hard control or all the way to 100%," he said.

Maffei said that the latest acquisition "reaffirm(s) our belief in DirecTV, the quality of its service, and the performance of (CEO) Chase Carey and his management team. The additional shares ... further align Liberty's interests with those of the DirecTV shareholders."

DTV has nearly 17 million subscribers, and has recently tried to establish itself as the perceived leader in HD programming with a pricey marketing campaign. Unlike cable or telco TV competitors, however, it doesn't offer its own broadband service as part of a bundle--something that has raised questions about its competitive position.

DTV closed at nearly $26.50 Thursday, up slightly and near a 52-week high.