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  • Justice Department sues to block satellite TV merger [Hughes/DirecTV - EchoStar/Dish]

    10/31/2002 8:21:11 PM PST · by HAL9000 · 7 replies · 267+ views
    Associated Press | October 31, 2002
    WASHINGTON, Oct 31, 2002 (AP WorldStream via COMTEX) -- The proposed merger of EchoStar Communications Corp. and Hughes Electronics Corp., creating the nation's largest subscriber television company, could untangle in a messy and expensive breakup following the government's suit to scuttle the deal. The companies issued statements on Thursday that they were considering their options to salvage the $22.6 billion deal. The government said the deal would eliminate competition between the two largest satellite television companies and hurt consumers. Only last week EchoStar offered to give rival Cablevision Systems Corp. a satellite frequency that would allow the company to...