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Technology Stocks : Primestar/TCI Satellite (TSATA) -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (103)	10/5/1998 8:57:00 AM
From: Noel	Read Replies (1) \| Respond to of 442

Fred: Just read the following. What do you think it means for TSATA? Choppy Economic Waters Pose Trouble For PrimeStar Deals Choppy market conditions are preventing Rupert Murdoch and News Corp. from finding investors to help purchase Primestar Inc. from its cable partners, people familiar with the transaction told Bloomberg. The plan to buy out the cable TV industry's 61 percent stake in Primestar is aimed at ending the Justice Department's antitrust suit challenging the combination of the second-largest U.S. satellite TV company and Murdoch's satellite TV venture, American Sky Broadcasting. According to Bloomberg, slumping stock prices around the world have led potential investors to seek safe places for their money. The current economic turmoil also is making it difficult for News Corp. to raise capital for the venture, which could cost as much as $700 million. It's expected that United Video Satellite Group, controlled by Tele-Communications Inc., will get a stake in PrimeStar. It's also rumored that Canal Plus, operator of successful satellite platforms in Europe, could buy a stake in the satellite broadcaster. Unless an investor is found, the government and the companies must resume preparations for a Feb. 1 trial. The exchange of pretrial information was put on hold until mid-October.