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Technology Stocks : Satellite Stocks - USSB, CQ, SPOT, QCOM, etc.
QCOM 177.24-0.8%Oct 30 3:59 PM EDT
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To: d[-_-]b who wrote (153)12/22/1996 3:40:00 PM
From: Alan Norton   of 222
 
Subject: GMH Electronics Sale

Eric, Thanks for the input. I did some digging and found some articles that stated that bids were due in Dec 13 and there were three possible bidders - MD, Grumman, and Raytheon. Another article I read speculated that the Boeing/MD deal was hastened in an attempt to stop the MD bid citing no interest by Boeing to purchase the Hughes business. If this is true, MD would not have bid.

What all of this means to DirecTV is the real topic at hand. Who knows, but AT&T could be interested and they already have a 2.5% ownership with options to purchase up to 30% based on the number of subscribers that they bring in. DirecTV could also be spun off to stand on its own. DirecTV is thought of as an American service, but Hughes is clearly trying to take the idea worldwide as DirecTV Global.

DirecTV/USSB has a two year head start on Echostar and over two million subscribers and still hasn't broken even, although they expect to do so sometime in 1997. The equipment wars seem to be escalating threatening short term profits and the whole industry has seen stock prices fall. Long term outlook looks good IMO, but there may have to be some shakeouts/consolidations before then.
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