Steve Mehs
12-02-02, 03:50 AM
In addition to submitting a revised merger plan, both EchoStar and DirecTV parent Hughes asked the Federal Communications Commission to suspend any more hearings on their proposed combination.
Instead of hearings, the companies said the FCC should evaluate "the remedial value" of their amended application. "The commission should place the amended application on public notice, and grant the application without a hearing if it agrees with the applicants that the proposed remedy is effective" in addressing competition concerns, the companies said.
The companies issues: The merger agreement between the two stipulates that they must receive regulatory approval by Jan. 6, or consummate the merger by the Jan. 21 walk-away date for Hughes.
"The parties urgently need commission resolution before the effective termination dates," they said. "Only expedited action can secure meaningful relief for the parties and for consumers."
From SkyReport (http://www.skyreport.com/skyreport/dec2002/120202.shtm#two) (Used with Permission)
Instead of hearings, the companies said the FCC should evaluate "the remedial value" of their amended application. "The commission should place the amended application on public notice, and grant the application without a hearing if it agrees with the applicants that the proposed remedy is effective" in addressing competition concerns, the companies said.
The companies issues: The merger agreement between the two stipulates that they must receive regulatory approval by Jan. 6, or consummate the merger by the Jan. 21 walk-away date for Hughes.
"The parties urgently need commission resolution before the effective termination dates," they said. "Only expedited action can secure meaningful relief for the parties and for consumers."
From SkyReport (http://www.skyreport.com/skyreport/dec2002/120202.shtm#two) (Used with Permission)