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Technology Stocks : Echostar Comm.
SATS 103.40-1.0%11:32 AM EST
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To: Noel who wrote (296)5/22/1997 12:18:00 PM
From: Noel   of 1394
 
More Info on NEWS/Primestar:

News Corp close to Primestar deal-Variety

NEW YORK, May 22 (Reuter) - News Corp Ltd may be
close to a deal to merge its ASkyB satellite TV venture into
Primestar, Daily Variety said.
In Thursday's edition, Variety said one of the more
prominent partners in Primestar, Time Warner Inc , was
debating the structure of such a deal rather than rejecting it
out of hand.
Primestar is a venture owned by several major cable
companies, including Tele-Communications Inc and Time
Warner.
TCI President Leo Hindery has told Wall Street analysts and
money managers in recent days about his optimism for a deal and
predicted it could be announced this week, unnamed sources told
Variety.
A TCI spokeswoman confirmed talks at the highest levels of
the companies were taking place, but she declined to comment
further, Variety said.
A venture with Primestar would replace the now-abandoned
deal News Corp had reached several months ago with EchoStar
Communications Corp . Time Warner declined comment.
Time Warner's ability to block a deal long-term is in doubt
since the Primestar partnership is being restructured into a
public company and in that new structure the partners may lose
veto power over such deals, Variety said.
((-- New York Newsdesk 212-859-1610))
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