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Technology Stocks : Echostar Comm.

SATS 69.70

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To: Stoctrash who wrote (938)	12/1/1998 10:48:00 PM
From: Noel	Read Replies (1) of 1394

FCC's Kennard looks forward to EchoStar details WASHINGTON, Nov 30 (Reuters) - Federal Communication Commission Chairman William Kennard said on Monday he looked forward to reviewing details of EchoStar Communications Corp.'s purchase of the satellite assets owned by News Corp. Ltd. and MCI WorldCom Inc. "Consumer need more competition to provide an alternative to cable and to keep cable rates in check," Kennard said in astatement. About six weeks ago News Corp. and MCI WorldCom abandoned a deal to sell their satellite assets to Primestar Inc., the satellite television service owned by a group of cable TV operators. The Justice Department had filed an antitrust lawsuit in May to block the sale. Kennard said direct broadcast satellite (DBS) firms had the potential to offer much-needed competition to cable. "The deal announced today could facilitate strong DBS-cable competition depending on the specific business plans put forward," he said. ((Washington newsroom, Phone: 202-898-8362 Fax: 202 898-8300, E-Mail washington.equities.newsroom@reuters.com))

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