Murdoch says he's 'interested' in DirectTV

CBS.MarketWatch.com ^ | 10/1/02 | Steve Gelsi

[GeneD]

Media mogul Rupert Murdoch of News Corp. told investors at the Goldman Sachs Media Conference he would be "interested" in DirecTV if it became available again. The satellite TV provider is owned by General Motors and is currently pursuing a merger with EchoStar, which is seeking regulatory approval to buy the company. "Naturally we are watching what is happening, should GMH come around again, we would look at it," Murdoch said. "But we would would look very carefully." Shares of Hughes were unchanged at $9.15 per share in early NYSE action on Tuesday. EchoStar fell 47 cents to $20.52.

[GeneD]

This grubby guy can't keep his grubby paws off anything.

[William McKinley]

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[Cicero]

It's not necessarily a bad thing. Murdoch is not reliably conservative, especially vis-a-vis China, but he allows more conservative takes on the news than any of the other media moguls.

He won't bite unless the price is right. He's a smart guy. But he has wanted a satellite network for a long time. While clinton was in office he misused the regulatory powers to block Murdoch from acquiring a satellite system and to keep Fox News off of many cable networks. For instance, Rudy Giuliani tried to get Fox into the NYC cable lineup, but clinton blocked it.

Now maybe Murdoch will succeed in getting Fox into more homes.

[jra]

To further your thoughts...Murdoch has certainly been more prudent in his acquisitions than his counterparts that turned two decent (albeit managed by liberal whiners) companies, AOL and Time Warner, into one miserable cluster ****.

Murdoch has a vision and a plan, and is generous with his employees...I've got a relative who works for one of his FOX-TV affiliates.

As far as the DirecTV purchase, the FCC SHOULD take a hard look at it. Would the Feds allow GM to buy Ford, for instance? Doubtful. An EchoStar/DirecTV merger would not be unlike that...i.e., the net effect would certainly not benefit consumers...a single, monolithic provider for satellite TV with no competition.

[tm22721]

a single, monolithic provider for satellite TV with no competition.

The reason the Echostar/DirecTV merger is in trouble is because cable is afraid of competition from a combined satellite powerhouse.

Satellite bandwidth is limited and the only way for satellite to compete is by getting more channels. If Echostar gets DirecTV, they can double the number of channel offerings from 500 to 1000.

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[el_chupacabra]

If the merger finally allows me to receive EWTN through my Directv receiver, then I'll call it a success.

[Flashman_at_the_charge]

If Echostar gets DirecTV, they can double the number of channel offerings from 500 to 1000.

This will then enable them to offer more local channels which is a big minus for both companies.