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Hughes Electronic Corp., owner of the DirecTV satellite broadcasting service has changed its company name to "The DirecTV Group Inc."

"The future of this company is centered on DirecTV and DirecTV will drive both our strategy and shareholder value going forward...With more than 12.2 million customers, the DirecTV name and brand resonates with consumers and this name change reaffirms and reinforces that our future lies with this business," said Chase Carey, president and CEO of The Direct TV Group. The company's Web site URL has changed to "directv.com," and its business units, DirecTV Inc., Hughes Network Systems, DirecTV Latin America and PanAmSat, will remain units of The DirecTV Group Inc.

Additionally, the company, which is owned by News Corp., changed its NYSE ticker symbol from "HS" to "DTV," and has already commenced trading under the new name and symbol.