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Technology Stocks : Echostar Comm.
SATS 73.50-2.5%Nov 4 3:59 PM EST
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To: Stoctrash who started this subject9/22/2000 10:34:42 AM
From: R. Giovinazzo   of 1394
 
DISH to buy GMH? (Skyreport)

NEW YORK - Is EchoStar serious about buying Hughes Electronics and its jewel, DBS provider DirecTV?

EchoStar Chairman Charlie Ergen talked about speculation that his company is making a bid for the satellite giant. At the semi-annual SkyFORUM conference in New York City, Ergen showed interest in the idea.

"But don't go out and write that we are buying GMH," Ergen said. "All that I'm saying is that there is a lot of synergy in a deal between the two companies."

Rumors that EchoStar is bidding for Hughes and DirecTV followed news a few weeks ago that Hughes parent General Motors is considering a partial or total spin-off of the business. The other rumored candidate is News Corp., which reportedly wants to use DirecTV to complete its global satellite reach.

Ergen said a deal to combine assets of the two companies could make sense as far as spectrum use, in which the duplication of programming by the two companies today would be eliminated, creating room for additional content. It would also allow for one set of standards for DBS set-top boxes.

Eddy Hartenstein of Hughes' Consumer Sector, which oversees DirecTV, wouldn't comment on the EchoStar effort. He stuck to the words of senior GM officials, who said a deal to spin off Hughes could be completed sooner rather than later, possibly within months.
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