Jeff Harris
10-28-2001, 12:47 PM
According to the Associated Press, News Corporation, which has a stranglehold of the home satelite market in all worldwide areas but North America, has all but conceded defeat in their attempt to buy the owners of DirecTV, Hughes Electronics from General Motors.
They cited the counter offer from Dish Network's owners, Echostar, as the main reason from their withdrawl from the bargaining table.
This announcement comes just days after The Walt Disney Company completed their acquisition of News Corp's Fox Family Worldwide, which includes the Fox Kids library of shows (from Power Rangers to the Mary Tyler Moore Show), Saban Entertainment, and the various Fox Kids networks throughout the world, including Fox Family Channel, which will be renamed ABC Family.
One of the main reasons why News Corp sold off that unit?
To purchase Hughes Electronics.
Go figure.
They cited the counter offer from Dish Network's owners, Echostar, as the main reason from their withdrawl from the bargaining table.
This announcement comes just days after The Walt Disney Company completed their acquisition of News Corp's Fox Family Worldwide, which includes the Fox Kids library of shows (from Power Rangers to the Mary Tyler Moore Show), Saban Entertainment, and the various Fox Kids networks throughout the world, including Fox Family Channel, which will be renamed ABC Family.
One of the main reasons why News Corp sold off that unit?
To purchase Hughes Electronics.
Go figure.