News Corp. Trims EchoStar Holdings


Washington-News Corp. has trimmed its stake in EchoStar Communications Corp., selling off 7 million shares for $49 each on Sept. 6, according to a securities filing last Thursday.

The Los Angeles Times had speculated that News chairman Rupert Murdoch sold his $7 million block to build a war chest for a bid for DirecTV Inc. parent Hughes Electronics Corp.

News still owns 26 million shares, or 11 percent equity, in EchoStar, the direct-broadcast satellite rival of DirecTV.