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

To: Noel who wrote (282)	2/28/1999 10:54:00 PM
From: BARRY ALLEN	Read Replies (2) \| Respond to of 442

EchoStar Communications Corp. (DISH): The No. 3 U.S. satellite-television operator, approached Primestar Inc. about buying some of its assets for $600 million, topping a bid made by rival DirecTV Inc. EchoStar said it's interested in offering $100 million more than DirecTV's bid, including assumed debt, for PrimeStar's high-power satellite assets and its medium-power satellite operations because of a cash crunch brought on by high customer turnover and rising costs and losses. DirecTV is owned by Hughes Electronics Corp. (GMH) and Primestar's owners include TCI Satellite Entertainment Inc. (TSATA), Time Warner Inc. (TWX), Comcast Corp. (CMCSA), MediaOne Group Inc. (UMG), Cox Communications Inc. (COX) and closely held Newhouse Broadcasting Corp. EchoStar rose 3/4 to 49. Doesn't $100 million translate into $1.68 additional per out standing share??