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EchoStar chief concedes he can't land DirecTV

By:
Jul 20, 2001 | 8:59am EDT

EchoStar chief Charlie Ergen acknowledged Thursday that he has been unsuccessful in interesting General Motors in a proposed deal to take over the company's Hughes Electronics division, which operates EchoStar's only rival, DirecTV. "A combination made sense for our shareholders and theirs," Ergen told the London Financial Times, "but they did not share our enthusiasm for that combination." Ergen's remarks came as EchoStar posted its first positive operating and net income since it launched its DISH home satellite service. DISH added 350,000 subscribers during its second quarter, twice as many as DirecTV.

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