Dish Takeover Talks Heat Up
By Monica Hogan -- Multichannel News, 6/13/2001 7:56:00 AM
EchoStar Communications Corp. declined comment on a report in The Wall Street Journal Wednesday that said it was securing financing for a takeover bid of DirecTV Inc. parent Hughes Electronics Corp.
Late Tuesday, EchoStar said the two companies had filed a joint motion to extend the deadline for EchoStar to file key comments in the antitrust suit it filed against DirecTV last year.
With the contentious lawsuit on hold, the companies are in a better position to discuss whether a merger between them would make sense. EchoStar said it will drop the lawsuit if merger talks are successful.
Monday night, EchoStar chairman Charlie Ergen told viewers of his 'Charlie Chat' that he is interested in buying DirecTV, but the companies have not yet begun formal negotiations.
Hughes and News Corp. chairman Rupert Murdoch are conducting due diligence about a possible merger of DirecTV into News Corp.'s SkyGlobal Networks.
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