Satellites

Murdoch seals $6.6 billion deal for Hughes Electronics

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/05/30/Ruper%20Murdoch.jpg?itok=-cbFawnq

MUMBAI: The timing was certainly apt. As American-led forces marched into Baghdad, Rupert Murdoch's media empire News Corp, which has made no bones about it's unambiguous and undivided support for US president George Bush's invasion of Iraq, made its own victory announcement.

Murdoch's three-year hunt for Hughes Electronics and its DirecTV unit is almost over bar the shouting (whether there will be opposition from regulators remains to be seen though). News Corp yesterday confirmed it plans to acquire 34 per cent of the leading US satellite broadcaster for about $6.6 billion in cash and stock. If as expected the deal is closed, Murdoch's dream for global satellite TV supremacy will be well and truely realised.

As per the deal thrashed out between News Corp, General Motors and Hughes Electronics, Murdoch's media conglomerate will acquire GMs 19.9 per cent stake in Hughes and a further 14.1 per cent of Hughes from public shareholders and GMs pension and other benefit plans. At closing, News Corp.s 34 per cent ownership interest will be transferred to Fox Entertainment Group (FEG), an 80.6 per cent-owned News Corp subsidiary, in exchange for a $4.5 billion promissory note and approximately 74.2 million shares in Fox at $27.99 per share, increasing News Corp.s equity interest in FEG to approximately 82 per cent.

If the deal goes through, it will trigger a clause in a previous agreement News Corp has with John Malone's Liberty Media to make him a partner. Fallen by the wayside are potential suitors Cablevision Systems and SBC Communications.

Following completion of the acquisition, which is subject to regulatory approvals, a tax ruling, and GM stockholder approval, Murdoch will become chairman of Hughes, while News Corp.s former co-COO, Chase Carey, will be president and CEO of Hughes. Hughes corporate senior executive V-P Eddy Hartenstein will be vice-chairman and report to Carey.

The businesses contained in Hughes include leading satellite broadcaster DirecTV, which has more than 11 million subscribers in the United States; an 81% equity holding in satellite operator PanAmSat; and Hughes Network Systems, the world's leading provider of broadband satellite network solutions.

A company release quoted Murdoch as saying yesterday: "Today we announce a genuinely exciting and transforming deal for News Corp., the Fox Entertainment Group and Hughes Electronics. The benefits will be felt almost immediately in the competition it will offer cable, the richer services it will provide to American viewers, and the value it will create for the shareholders of Fox, News Corp. and Hughes.

"With Fox taking a significant interest in Hughes, we are forging what we believe will be the premier diversified entertainment company in America today, with leading assets in film, television broadcasting and production, cable programming, and now pay-TV distribution. The alignment of Foxs valuable content assets and DirecTVs distribution platform will provide significant benefits to consumers and greatly enhance the future businesses of both companies."

If and when approvals from antitrust regulators for the DirecTV buyout come through, Murdoch's vision of controlling a global network of pay-TV businesses that span the US, Britain, Europe, Asia, Latin America and Australia will have been realised.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/16/Barrie_Woolston-Graham_Warren.jpg?itok=_QGtMB9i
AsiaSat 5 & Eurovision to deliver Taipei event in 4K & HD from 19 Aug

MUMBAI: Eurovision Media Services, in collaboration with its long-term satellite partner, Asia Satellite Telecommunications Company Limited (AsiaSat), will use AsiaSat 5 to deliver the Taipei 2017 Universiade across the Asia Pacific.

Satellites Satellite Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/03/url.jpg?itok=lFHP9hx2
15 operational sats for communication, 26 under development

NEW DELHI: Fifteen of the 42 currently operational satellites are being utilised to meet the requirements of the communication industry, the minister of state in the department of space Jitendra Singh has said. Singh told the Parliament that the operational satellites in orbit comprise 18 earth...

Satellites Satellite Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/01/andrew.jpg?itok=e86OLpvB
AsiaSat 9 set for 28 September launch

AsiaSat 9, AsiaSat’s most powerful satellite, is set for launch on 28 September Moscow time 09:50pm (29 September Baikonur time 00:50am, Hong Kong time 2:50am) on a Proton M/Breeze M rocket from Baikonur Cosmodrome, Kazakhstan, after being in storage at Space Systems Loral’s facility with its Pre-...

Satellites Satellite Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/28/url.jpg?itok=E6E83tG1
Communication facilities increased with 7 satellites in last 3 years

NEW DELHI: Satellite Communication capability was augmented with seven more satellites in the last three years with GSAT-6, GSAT-9, GSAT-15, GSAT-16, GSAT-17, GSAT-18, and GSAT-19. Another major achievement since June 2014 has been the realisation of South Asia Satellite to enable South Asian...

Satellites Satellite Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/21/PSLV%20satellites.jpg?itok=sXnvEpvj
Transponder leasing yields Rs 7.5 bn for communication satellites

NEW DELHI: Communication satellites earned revenue of Rs 7.4668 billion through leasing of INSAT/ GSAT transponders in 2016-17.

Satellites Satellite Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/20/Jitendra%20Singh.jpg?itok=YnOXPneY
GSAT 17 to be inducted into INSAT/GSAT system after tests

NEW DELHI: The GSAT-17 launched last month is undergoing in-orbit tests after which it will be inducted into the INSAT/GSAT system for providing various communication services to the country in C, Extended-C and S-band. The communication satellite, with a lift-off mass of 3477 Kg - carrying...

Satellites Satellite Launches
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/06/29/GSAT-17.jpg?itok=klwqMY4i
India's GSAT-17 communication satellite launched successfully

MUMBAI: GSAT-17 became India’s third communication satellite to successfully reach orbit in the past two months. GSAT-17 was launched in the early morning hours using the European Ariane 5 Launch Vehicle from Kourou, French Guiana. The 3477 kg GSAT-17 carries communication payloads in C-band,...

Satellites Satellite Launches
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/06/27/Arianespace.jpg?itok=GdU6ktZB
Arianespace to launch ISRO-built DTH & telecom satellites

MUMBAI: Preparations are afoot to launch two satellites aboard Arianespace’s workhorse Ariane 5 rocket for delivery to GTO (geosynchronous transfer orbit). Hellas Sat 3 / Inmarsat S EAN and GSAT-17 have been scheduled to lift off from the spaceport in Kourou, French Guiana, on 28 June (Wednesday),...

Satellites Satellite Launches
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/06/05/isro103-800x800.jpg?itok=sN3AP0-l
ISRO gears up for GSAT-19, GSLV Mk III launch today

MUMBAI: Another rocket will be turbo-charged into space today with its 3,136 kg payload (the GSAT-19 satellite) from India’s space launch site in Sriharikota in Andhra Pradesh. The only difference, when the GSLV Mk III takes off at 17:28 pm, it will place the Indian Space Research Organisation...

Satellites Satellite Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories