The sky falls on Echostar chairman

EchoStar chairman Charlie Ergen has reportedly thrown in the towel in his battle with News Corp’s Rupert Murdoch over control of Hughes Electronics’ DirecTV, according to the Wall Street Journal. The news came following a report by CNBC’s David Faber that General Motors, Hughes’ parent, had already informed Ergen that it had decided to accept a deal proposed by Murdoch.