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Technology Stocks : C-Cube

CUBE 36.64

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Dec 5 9:30 AM EST

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To: DiViT who wrote (37099)	11/4/1998 6:30:00 PM
From: John Rieman	of 50808

DirecTV in Mexico. Expansion plans..................... biz.yahoo.com Friday October 30, 11:21 pm Eastern Time Hughes, MVS expand plans for DIRECTV in Mexico FORT LAUDERDALE, Fla., Oct 30 (Reuters) - General Motor's Hughes Electronics Corp.(NYSE:GMH - news) , MVS Multivision and Galaxy Latin America LLC said Friday they have agreed on plans for the expansion and growth of DIRECTV in Mexico. They also said in a joint statement that they have agreed to accelerate the execution of Galaxy and Grupo Galaxy Mexicana's strategies. As a result of these agreements, Hughes has acquired MVS' 10 percent stake in Galaxy Latin America, the companies said in a statement. The move increases its stake to 70 percent. MVS remains the majority owner of Grupo Galaxy. Galaxy will have greater participation in the management of the operations of the DIRECTV business in Mexico. These agreements will also enable Grupo Galazy to have the increased ability to promote and further grow the DIRECTV service in Mexico, including the launch of new data services and high definition television in 1999. DIRECTV, a direct-to-home entertainment service, was launched in Mexico in December 1996. Hughes is a satellite and direct broadcast television company.

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