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Referee calls time out on News deal for DirecTV.
Australasian Business Intelligence, October, 2003
Oct 13, 2003 (The Sydney Morning Herald - ABIX via COMTEX)
US regulators are demanding more information from News Corporation over its DirecTV acquisition plans. On 10 October 2003, the US Federal Communications Commission (FCC) said it would be reviewing the media group's plan to buy a 34 stake in Hughes Electronics, which owns DirecTV, the biggest satellite TV operator in the US, for $US6.6bn ($A9.6bn). Not only does the FCC want more information about the deal, it also wants News Corporation to conduct further talks with the US Department of Justice. Despite the latest drawback, News Corporation's president, Peter Chernin, said he remained confident that the deal will proceed.
Publication Date: 14 October 2003
NEWS CORPORATION LIMITED - ASX...
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