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UPDATE 2-DirecTV president to leave after News Corp closing

(Adds Austin details)

NEW YORK, Nov 21 (Reuters) - DirecTV on Friday said President Roxanne Austin will leave the company after News Corp. completes its takeover of the No. 1 satellite television service's parent, Hughes Electronics Corp. .

News Corp. is expected to name Mitchell Stern, chief executive of its Fox television stations unit, to replace Austin, a source familiar with the matter said.

"Austin made it clear that her aspirations were to become a chairwoman," the source said. "There simply wasn't that opportunity at DirecTV under the current circumstances."

News Corp. executives were not immediately available to comment and Hughes and DirecTV executives declined to comment beyond a press statement.

Rupert Murdoch, chairman and CEO of News Corp, will become chairman of Hughes after the deal closes. Chase Carey, a longtime satellite and media executive, is to become chief executive. Eddy Hartenstein, the current chairman of DirecTV, will become vice chairman of Hughes.

DirecTV expects to complete the Hughes deal this year.

Austin, 42, was credited with turning DirecTV around after a tough period two years ago.

At that time, DirecTV was losing market share to EchoStar Communications Corp. and cable companies as, company executives admitted, it was distracted by speculation over the a possible takeover.

Since Austin took over in June 2001, DirecTV's revenue has risen 37 percent and its subscriber base has increased 37 percent.