News Corp Chairman Rupert Murdoch has told investors that he is close to nailing down an agreement to take over control of Hughes Electronics, operator of the DirecTV home satellite service, the London Financial Times reported on its online site on Saturday. The newspaper quoted Murdoch as saying that News Corp is “nearing the end of the process” of completing the deal. The newspaper also indicated that talks between Hughes’ parent, General Motors, and Charlie Ergen, chairman of DirecTV rival Echostar, have been inconsequential and that GM would only become involved in serious negotiations with Ergen if the deal with News Corp turned sour.
- Advertisement -
