Gregg Lengling
11-11-2002, 02:21 PM
News Corp. Chairman Rupert Murdoch reiterated what he has said before concerning his interest in DirecTV, saying he hasn't held any discussions with the satellite TV operator.
"So much as a telephone call and they risk losing their $600 million break-up fee," he said, referring to the money EchoStar would pay if its proposed merger with DirecTV collapses. Last year, EchoStar outbid News Corp. for the DirecTV assets, but its merger with DirecTV is facing tough regulatory opposition.
Instead, Murdoch said News Corp. is focusing its efforts on Italy, where the media giant is buying pay-TV operator Telepiu. Murdoch said he expects the Italian business to eventually be more profitable than British Sky Broadcasting, the satellite TV business in which News Corp. has a 40 percent stake.
"So much as a telephone call and they risk losing their $600 million break-up fee," he said, referring to the money EchoStar would pay if its proposed merger with DirecTV collapses. Last year, EchoStar outbid News Corp. for the DirecTV assets, but its merger with DirecTV is facing tough regulatory opposition.
Instead, Murdoch said News Corp. is focusing its efforts on Italy, where the media giant is buying pay-TV operator Telepiu. Murdoch said he expects the Italian business to eventually be more profitable than British Sky Broadcasting, the satellite TV business in which News Corp. has a 40 percent stake.