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DirecTV LaAm says fate could be resolved in few days

Discussion in 'DIRECTV General Discussion' started by John Corn, Feb 6, 2003.

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  1. John Corn

    John Corn Hall Of Fame

    Mar 21, 2002
    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

  2. raj2001

    raj2001 Icon/Supporter

    Nov 2, 2002
    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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