Steve Mehs
11-07-02, 05:00 AM
As reported Wednesday, News Corp.'s Rupert Murdoch said that if his company had a second chance to bid on the DirecTV/Hughes assets, (http://www.skyreport.com/skyreport/nov2002/110602.shtm#one) it could take a year for the media giant to complete the transaction.
And, Murdoch emphasized, "We frankly don't know yet if it's going to be offered to us."
During a press conference earlier this week, Murdoch stressed that News Corp. would only be interested in General Motors' 30 percent stake in Hughes, and would not bid for the remaining 70 percent. "Whatever we do I can assure you we are going to act very carefully and not take any imprudent risks," he said.
Murdoch also said News Corp. has not held any talks with either General Motors or Hughes.
Hughes and DirecTV continue to work with EchoStar on their proposed merger, going to federal court Tuesday to defend the transaction. The Justice Department and Federal Communications Commission are blocking the proposed EchoStar/DirecTV combination.
From SkyReport (http://www.skyreport.com/skyreport/nov2002/110702.shtm#three) (Used with Permission)
And, Murdoch emphasized, "We frankly don't know yet if it's going to be offered to us."
During a press conference earlier this week, Murdoch stressed that News Corp. would only be interested in General Motors' 30 percent stake in Hughes, and would not bid for the remaining 70 percent. "Whatever we do I can assure you we are going to act very carefully and not take any imprudent risks," he said.
Murdoch also said News Corp. has not held any talks with either General Motors or Hughes.
Hughes and DirecTV continue to work with EchoStar on their proposed merger, going to federal court Tuesday to defend the transaction. The Justice Department and Federal Communications Commission are blocking the proposed EchoStar/DirecTV combination.
From SkyReport (http://www.skyreport.com/skyreport/nov2002/110702.shtm#three) (Used with Permission)