"This transaction is strategically important, financially attractive and will provide new focus to Liberty Media," Liberty CEO Greg Maffei said in a statement.

Nice words, but what do they mean? And, what impact will the new ownership have on the High-Definition TV industry?

Here are a few likely scenarios:

1. More Original Content
With DIRECTV unable to offer voice and Internet service -- unlike cable and the telcos -- you'll see the satcaster place even more emphasis on its video service, specifically high-def.

Cable and telcos may have the Triple Play, but DIRECTV's current lineup of 90 national HD channels is without equal at this time. And with a new satellite launching this year, it will be able to expand that lineup (national and locally) even more dramatically. High-def now is the company's strongest weapon in its fight for new customers (and to maintain old ones.)

However, instead of just adding more high-def channels in the coming year (although that will happen, too), I think you'll see DIRECTV offer more original HD programming -- shows that are not available on any other TV provider's lineup.

The satcaster is already experimenting with producing original content, such as Project My World, which airs on its channel 101. But I think you'll see more original high-def sports and entertainment programming as a way to attract new subscribers.

2. Merger Talks
John Malone, Liberty Media's chairman, is arguably the industry's leading wheeler-dealer. With DIRECTV now officially under control, look for Liberty to explore merger and partnership talks with several companies, most notably AT&T and rival satcaster Dish Network.

I  predicted earlier that DIRECTV will merge this year with Dish and I still think that's a serious possibility. But Liberty might find a buyer  that no one is even thinking about at this point.

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