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Technology Stocks : Echostar Comm.
SATS 82.11+10.2%Dec 5 9:30 AM EST

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To: Eqmx who wrote (237)5/2/1997 1:40:00 PM
From: Carey Thompson   of 1394
 
A new soap opera is bubbling: "AS THE SKY TURNS".

Friday May 2 2:41 AM EDT

News Corp NCP.AX exec, Sky negotiator, quits-NYT

NEW YORK, May 2 (Reuter) - New Corp Ltd executive Preston Padden, who led the company's bid to start a satellite-television service venture, has resigned, the New York Times reported on Friday.

News Corp had planned a $1 billion satellite-television service with Echostar Communications Corp, but the deal has recently shown signs of coming apart.

According to a person with knowledge of talks between the companies, Padden, who led News Corp's satellite operations, resigned because he had not gotten along with EchoStar Chairman Charles Ergen, the New York Times said.

Padden was quoted as saying in a statement he would "spend a period of time considering career alternatives."

The New York Times said the person with knowledge of the talks believed the negotiations were continuing.

Separately, the Los Angeles Times reported on Friday that News Corp chairman Rupert Murdoch was set to abandon plans to launch a satellite service, citing sources close to the firm.

The Los Angeles Times said Murdoch met with Time Warner Inc chairman Gerald Levin to resolve long-time conflicts between their companies.

Time Warner, the Los Angeles Times said, continues to block News Corp's attempts to join Primestar Partners, a satellite company controlled by Tele-Communications Inc , Time Warner, US West Inc (US West Communications) , Comcast Corp and Cox Communications Inc .

Other reports have said Murdoch approached TCI's John Malone about a possible alliance with Primestar but a Primestar spokeswoman recently told Reuters she was not aware of any recent conversation with News Corp.

News Corp's New York offices were not immediately available to comment.

Echostar said at the beginning of the week it was delaying regulatory filings on the venture over News Corp's demands that it abandon a conditional-access system it used.

Ergen, EchoStar's chairman, said on April 29 he planned to honour the agreement with News Corp.

Copyright c 1997 Reuters Limited. All rights reserved.
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