12.22.2003 01:37 PM
FCC Approves News Corp/Hughes Merger
(December 20, 2003) Washington, DC--The Federal Communications Commission has conditionally approved 3-2 News Corp's bid to buy Hughes Electronics and its DirecTV subsidiary from General Motors. If the deal goes through, it will combine DirecTV with New Corp's FOX studios, pay television networks, the FOX News channel, and 35 local stations. It will grant News Corp the largest reach of any media outlet in the U.S.