re: ncp deal is now official I hope you guys all held your calls. I did.
NEW YORK, April 9 (Reuters) - News Corp.
said on Wednesday it struck a deal to take control of DirecTV
for about $6.6 billion, giving media mogul Rupert Murdoch his
long-sought foothold in the U.S. satellite television market.
Under the terms of the deal, News Corp. said it would buy
General Motors Corp.'s19.9 percent stake in Hughes
Electronics Corp., the corporate parent of DirecTV.
News Corp. said it would pay about $14 per Hughes share --
a 22 percent premium over Hughes' $11.48 closing price on
Wednesday -- and offer to buy another 14 percent for the same
price from the company's public shareholders.
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