Murdoch Adds to His Empire by Agreeing to Buy DirecTV
By ANDREW ROSS SORKIN
Completing the final piece in Rupert Murdoch's global satellite empire, the News Corporation agreed yesterday to buy control of Hughes Electronics and its DirecTV satellite operation from General Motors in a deal valued at $6.6 billion.
The deal will give Mr. Murdoch even more power in determining what programs are beamed to television sets across the United States and how much consumers pay for them.
With the addition of DirecTV, the nation's largest satellite operator with 11 million subscribers, the News Corporation will become one of only a few media companies in the nation, among them AOL Time Warner, that both create television programs and distribute them. The News Corporation owns the Fox Network and dozens of local affiliates as well as the increasingly powerful Fox News Channel and a clutch of heavily watched regional Fox Sports networks.
(excerpt reprinted without permission from nytimes.com)