BREAKING NEWS - ECHOSTAR ASKS FCC TO WAIT TO MAKE ITS RULING!

Looks like we are the first to break the news, I have searched all the wires and nothing.

This press release comes my in house Bloomberg Unit.

(Full credit goes to Bloomberg)

Echostar Asks Federal Regulators to Postpone Vote on Merger
Oct 7 2002 16:20

Washinton, Oct. 7 (Bloomberg) -- Echostar Communications Corp. asked the U.S. Federal Communications Commission to postpone a vote on acquisition of satellite-television reval Hughes Electronics Corp. so it can make "major revision" to the proposal to antitrust enforcers.

Echostar, owner of the Dish Network, asked the FCC to delay its decision until after the company meets with Department of Justice officials, accordiing to a goverment filiing. The FCC is expected to reject a proposed $23 billion purchase, people familiar with the transaction said last week.

The decision was going to be made TODAY???

I guess the FCC answers to Charlie now?

Chairman Powell has said an announcement was imminent and that it could happen as early as today. As for the FCC "answering" to Charlie---- Well if you want to see it that way go ahead but it sounds more like Charlie is making a request of them.

I had it from a REALLY good contact that the FCC could have ruled today. Also on XM the XM News Channel kept saying that THEY were expecting the ruling today, and CNET and Bloomberg also mentioned on the air they were expecting it as well.

The president of GM was just on Bloomberg, and when asked about the merger he didnt really say much, it almost as if he wanted Charlie to go at it alone.

Scott G: is that what they call a "Squawk Box"?

I mean that in-house Bloomberg unit. Is that a "Squawk Box"?

EchoStar released a couple of huge 425s today:

http://ccbn.tenkwizard.com/contents...SC=ON&TC=FFFFFF&LK=0000FF&AL=cc0033&VL=cc0033

http://ccbn.tenkwizard.com/contents...SC=ON&TC=FFFFFF&LK=0000FF&AL=cc0033&VL=cc0033

They may be very simular.

Originally posted by Scott Greczkowski
(Full credit goes to Bloomberg)

so it can make "major revision" to the proposal to antitrust enforcers.

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Would that reset the clock?

What are the odds that the revisions would change the DOJ and FCC's minds?

Here's the Filing. It showed up at the FCC at 4pm. IMO I wouldn't doubt it was delivered as everyone sat down to vote!

http://gullfoss2.fcc.gov/prod/ecfs/retrieve.cgi?native_or_pdf=pdf&id_document=6513294644

Originally posted by SParker
What are the odds that the revisions would change the DOJ and FCC's minds?

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Since DirecTV really does not want the merger to happen, maybe they are going to send all of the DOJ and FCC officals a free Dishplayer to use .... that would just about make them throw Echostar out the back door :lol: :blush:

Guess DTV did their part to get a free $600 Mil. Works all the time.

JE

I think Charlie is going to give in and re-work the paperwork so it will be what the DOJ and FCC want.

And just when I was beginning to think this whole thing would be soon be behind us

Well key dates mentioned for interviewing is the 28th of October. It will be past the end of November now probably before we find out if the merger will go through.

Originally posted by Mike123abc
Well key dates mentioned for interviewing is the 28th of October. It will be past the end of November now probably before we find out if the merger will go through.

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If E*/D* want to make major changes to their proposal, it's only fair to have another period for comments. The last (almost) year has been spent analyzing and critiquing their original proposal. The FCC and DOJ will need to hear from people/organizations about the revised plan if they choose to review it. I'd be surprised if FCC & DOJ accept a change at this late date.

And what could the say that would not decease competition? Nothing, the FCC will say sorry Charlie.