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Guest Message by DevFuse

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DirecTV LaAm says fate could be resolved in few days


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#1 OFFLINE   John Corn

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Posted 06 February 2003 - 03:39 PM

NEW YORK, Feb 6 (Reuters) - Satellite television service DirecTV Latin America, the largest pay TV service in the region, said on Thursday its fate could be determined in the next few days as it enters "difficult negotiations" to cut costs with its biggest partners.

The broadcaster, which is owned by Hughes Electronics Corp (nyse: GMH - news - people),said last month that it would consider filing for bankruptcy by the end of January if it had not made progress in restructuring contracts with programmers and vendors.

"We will have difficult negotiations in next few days. Pending the outcome of those negotiations we will make a determination of the next steps to follow," DirecTV Latin America spokesperson Jannice Reyes said

http://www.forbes.co.../rtr872779.html
Have a Great Day! :) :flag:

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#2 OFFLINE   raj2001

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Posted 11 February 2003 - 09:49 AM

As a previous subscriber I am sad to see them go down this way. But I think the competition from cable companies across the region was too much. The cost of the service was way higher than cable.




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