Steve Mehs
05-19-03, 04:44 AM
Late Friday, the Federal Communications Commission began the formal review process of News Corp.'s proposed takeover of a controlling stake in Hughes Electronics and its satellite TV gem, DirecTV.
Specifically, the commission is asking for public comment on News Corp.'s application seeking consent to transfer control of various FCC licenses and authorizations, including DBS licenses for DirecTV and various satellite authorizations held by PanAmSat and Hughes Network Systems.
The first round of comments is due at the FCC on June 16. Reply comments are due July 1. No specific timeline for FCC action on the deal was given in the order released Friday.
News Corp. executives have said they want the transaction to close before the end of the year.
From SkyReport (http://www.skyreport.com) (Used with Permission)
Specifically, the commission is asking for public comment on News Corp.'s application seeking consent to transfer control of various FCC licenses and authorizations, including DBS licenses for DirecTV and various satellite authorizations held by PanAmSat and Hughes Network Systems.
The first round of comments is due at the FCC on June 16. Reply comments are due July 1. No specific timeline for FCC action on the deal was given in the order released Friday.
News Corp. executives have said they want the transaction to close before the end of the year.
From SkyReport (http://www.skyreport.com) (Used with Permission)