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Microcap & Penny Stocks : IATV - ACTV Interactive Television -- Ignore unavailable to you. Want to Upgrade?

To: art slott who wrote (2707)	9/8/1998 8:24:00 PM
From: art slott	Read Replies (1) \| Respond to of 4748

The kick Off Preview is being sent to us by Primestar. Murdoch May Have Satellite Deal Associated Press Online - September 08, 1998 16:17 NEW YORK (AP) - Rupert Murdoch's News Corp. and an affiliate of Tele-Communications Inc. have reached a tentative deal to acquire control of satellite broadcaster Primestar Inc. from four major cable companies, according to a published report. The Wall Street Journal, citing people familiar with the deal, said Tuesday that News Corp. and United Video Satellite Group would pay more than $700 million for the cable companies' 60 percent stake in Primestar so Murdoch can pursue his long-sought push into U.S. satellite broadcasting. A Primestar spokesman declined to comment on the report, which follows much industry speculation that Murdoch would seek control of Primestar. A spokesman for News Corp. was not available for comment. News Corp., whose enormous media holdings include the Fox network and 20th Century Fox movie studio, tried to merge its U.S. satellite business with Primestar earlier this year. But the Justice Department sued to block the deal, citing concerns about cable companies wielding too much power in the satellite industry - cable's only real competitor. Time Warner Inc., MediaOne Group, Cox Communications Inc. and Comcast Corp. together own 60 percent of Primestar, while 30 percent is held by TCI Satellite Entertainment Inc., a publicly held spinoff of TCI. Small stakes also are held by General Electric Co., TCI chairman John Malone and the family of TCI founder Bob Magness. The Journal said the deal could still fall apart, as some cable partners aren't happy with the sale price and are reluctant to sell out to Murdoch, who is considered an archrival. News Corp.'s partner in the reported deal, United Video, is controlled by Liberty Media, the programming arm of TCI. After AT&T Corp. completes its planned acquisition of TCI, Liberty Media will be run independently under Malone. -------------------------------------------------------------------------------- %FINANCIAL NWS TCOMA UVSGA UMG COX CMCSK TSATA GE T %MED %CMT %CGL V%APONLINE P%APO