The missing link; News Corporation.(Rupert Murdoch's latest victory)
Economist (US), The, April, 2003
Rupert Murdoch finally bags DirecTV
IT WAS the crowning piece of news at the end of a great few weeks for Rupert Murdoch. News Corporation's announcement on April 9th of its $6.6 billion agreement to buy 34% of Hughes Electronics, a subsidiary of General Motors that runs DirecTV, America's biggest satellite-TV operation, was the deal he has been fixated by for years. The deal came a week after European regulators had approved the merger of his Italian pay-TV outfit, Stream, with Vivendi's rival Telepiu, to create Sky Italia. And just as cheering, Mr Murdoch has emerged from war in Iraq as king of 24-hour news, with his Fox News network ahead of AOL Time Warner's CNN in the American ratings, and Britain's Sky News ahead of BBC 24, its closest rival.
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