Steve Mehs
03-25-03, 04:17 AM
More speculation surfaced on News Corp.'s bid to acquire DirecTV, this time coming from British sources.
The Observer newspaper reported that the media giant was poised to make a $7 billion bid for Hughes Electronics and DirecTV as early as this week. The news sent News Corp.'s stock down more than 6 percent to $25.25.
The Observer also reported over the weekend that News Corp. Chairman Rupert Murdoch was expected to set up a new company - partly owned by Liberty Media and controlled by News Corp.'s Fox Entertainment Group - to take control of DirecTV.
The news follows money moves made by News Corp. and Liberty last week. News Corp. announced a $1.5 billion, 20-year bond issue while Liberty said it's planning to offer $1.75 billion in 20-year senior debentures convertible into AOL Time Warner shares.
From SkyReport (http://www.skyreport.com/skyreport/mar2003/032503.shtm#two) (Used with Permission)
The Observer newspaper reported that the media giant was poised to make a $7 billion bid for Hughes Electronics and DirecTV as early as this week. The news sent News Corp.'s stock down more than 6 percent to $25.25.
The Observer also reported over the weekend that News Corp. Chairman Rupert Murdoch was expected to set up a new company - partly owned by Liberty Media and controlled by News Corp.'s Fox Entertainment Group - to take control of DirecTV.
The news follows money moves made by News Corp. and Liberty last week. News Corp. announced a $1.5 billion, 20-year bond issue while Liberty said it's planning to offer $1.75 billion in 20-year senior debentures convertible into AOL Time Warner shares.
From SkyReport (http://www.skyreport.com/skyreport/mar2003/032503.shtm#two) (Used with Permission)