FCC Delays Review Of News Corp./DirecTV Deal

(October 12, 2003) New York, NY--If News Corp. wants to succeed in its bid to buy DirecTV, it might have to wait a while. On Friday, the FCC said it would not be able to complete its consideration of the deal in the usual 180-day period. It said it would need more time and information to review the transaction. News Corp. had been looking to complete the acquisition before the end of the year.

Author:: TVTechnology
Publish date:: Oct 12, 2003
Social count:: 0

(October 12, 2003) New York, NY--If News Corp. wants to succeed in its bid to buy DirecTV, it might have to wait a while. On Friday, the FCC said it would not be able to complete its consideration of the deal in the usual 180-day period. It said it would need more time and information to review the transaction. News Corp. had been looking to complete the acquisition before the end of the year.

News Corp.
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News Corp would acquire a 34 percent controlling stake in DirecTV’s parent, Hughes Electronics Corp.

The FCC has approved News Corp.'s purchase of DirecTV.

The FCC wants News Corp. to answer more than 10 pages of questions concerning among other things, News Corp.'s bid to buy DirecTV.

Several Democrats in the House are still hostile to Rupert Murdoch's proposed acquisition of DirecTV.

The Federal Communications Commission has conditionally approved 3-2 News Corp's bid to buy Hughes Electronics and its DirecTV subsidiary from General Motors.

Under the terms of the Commission action, News Corp. must accept arbitration to resolve disputes with cable operators over programming and rates.

EchoStar said the proposed $6.6 billion deal would reduce consumer choices.

Commission reached its decision 16 months earlier