US, states, file suit against EchoStar-Hughes deal

[Scott Greczkowski]

US, states, file suit against EchoStar-Hughes deal
Thursday October 31, 12:11 pm ET


WASHINGTON, Oct 31 (Reuters) - U.S. antitrust enforcers went to court on Thursday seeking to block EchoStar Communications Corp. (NasdaqNM:DISH - News) proposed purchase of Hughes Electronics Corp. (NYSE:GMH - News), dismissing a last-ditch offer by the satellite TV companies aimed at winning approval of the deal.

The U.S. Justice Department and 23 states filed suit in federal court against the $19.5 billion merger saying it would harm consumers in the pay television market.

The decision comes three days after attorneys for EchoStar and Hughes pitched their concessions in a meeting with the chief of the Justice Department's Antitrust Division.


Read the rest at http://biz.yahoo.com/rc/021031/media_hughes_antitrust_2.html

[dlsnyder]

So what's next? Will they buy PanAm Sat or not? Perhaps buy the R/L DBS slots at 61.5 and launch an all HDTV lineup there?

[Scott Greczkowski]

I believe that Charlies next logical step is to BUY Cablevision. :)

Or at least buy their satellite.

[Curtis0620]

After he pays $600m breakup fee and $2.7b for PanAmSat, where does he get the money to buy Cablevision?

[Martyva]

From the profits from PanAM Sat

[John Hodgson]

Statement of EchoStar Communications Corporation CEO (http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=dish&script=410&layout=-6&item_id=351811)

[cnsf]

Funny how you can't put the proverbial "black eye" in the text of the statement.

I think the consumer is the winner in this one. Charlie will find a way to get the bandwidth he wants, it will just take more time and money.

Time to focus on the customer.......not the merger......

[timf]

Strike Two.

[oblio98]

Big win for the cable companies and their lobby.

[adsman]

Originally posted by oblio98
Big win for the cable companies and their lobby.

AMEN Brother