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EchoStar bid stalls News Corp deal for DirecTV

Aug 10, 2001 | 1:26pm EDT

News Corp, which only two weeks ago was reported to be close to a deal with General Motors to acquire Hughes Electronics, the operator of the DirecTV home satellite service, has acknowledged that the deal has suffered a setback as a result of a rival offer from EchoStar Communications. In an interview with Bloomberg News in Brisbane, Australia Friday, News Corp Deputy COO Lachlan Murdoch described the EchoStar bid as "fairly disappointing." He said that the negotiations with GM had been going "fairly well" until this week's $30-billion bid by EchoStar, which operates the DISH satellite service.

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