5:09PM SBC said to eye Hughes purchase (SBC, GMH) by Jeffry Bartash SBC Communications (SBC) reportedly has entered into talks concerning the potential acquisition of Hughes Electronics (GMH), the satellite operator owned by General Motors (GMH). The New York Times reported late Friday that SBC might be willing to pay more than $10 billion, a move that could undercut attempts by News Corp. to obtain DirecTV. GM had agreed to sell Hughes to satellite-TV rival EchoStar Communications, but U.S. regulators blocked the deal on antitrust grounds. News Corp., owned by Rupert Murdoch, has been trying to acquire satellite-TV operations in the U.S. for several years. News Corp. also owns the Fox network as well as satellite assets overseas.
