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Article: Murdoch back to fill hole in satellite empire. (Media & Technology).(rumors about Rupert Murdoch's News Corp. acquiring Hughes Electronics Corp. )
- Article from:
- Los Angeles Business Journal
- Article date:
- November 18, 2002
- Author:
CopyrightCOPYRIGHT 2002 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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News Corp. Chief Executive Rupert Murdoch may get another shot at owning a U.S. satellite-television service after years of failed efforts to enter the market.
Investors say they expect Murdoch will make another offer to buy a controlling stake in El Segundo-based Hughes Electronics Corp., owner of the DirecTV satellite service, after regulators last month blocked a proposed purchase of Hughes by rival EchoStar Communications Corp.
Speculation about Murdoch's plans only intensified last week with word that News Corp. intends to sell 50 million new shares of its Fox Entertainment Group unit, owner of the Fox television networks and 20th Century Fox film ...