TSATA should rock - ck this out -->
TSATA AFTER CLOSE
DirecTV in Talks to Buy Rival Primestar, New York Times Says
New York, Jan. 20 (Bloomberg) - DirecTV, the No. 1 satellite- TV company owned by General Motors Corp.'s Hughes Electronics Corp., is in talks to buy No. 2 Primestar Inc., which is owned by a group of cable companies and the public, the New York Times reported, citing an unidentified person close to the talks. DirecTV would pay $500 million in cash for Primestar's 11 frequencies that could deliver high-power service, and pay for its 2.3 million subscribers only as they are converted from Primestar's medium-power to DirecTV's high-power service. Primestar President Carl Vogel, whose company has been struggling and is expected to run out of cash by April, declined to comment, the paper said.
Primestar's shareholders include Time Warner Inc., Newhouse Broadcasting Corp., Comcast Corp., MediaOne Group Inc., Cox Communications Inc. and TCI Satellite Entertainment Inc.
|
