Business Services Industry
U.S. REGULATORS ASK MURDOCH TO PROVIDE MORE INFO ON HUGHES STAKE.
AsiaPulse News, June, 2003
SYDNEY, June 6 Asia Pulse - Rupert Murdoch's News Corp Ltd (ASX:NCP) has been asked by American regulators to provide more information on its US$6.6 billion (A$9.97 billion) purchase of a stake in Hughes Electronics Corp.
News Corp said it, along with Hughes, had been asked by the United States Department of Justice to provide additional information about the deal under anti-trust legislation.
The deal, if approved, will see News Corp take control of US satellite TV giant DirecTV from Hughes.
"The companies intend to respond promptly to the information requests and do not anticipate that compliance with the requests will delay completion of the the transaction, which is expected by the end of calendar 2003 or, at the latest, in the first quarter of...
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