DirecTV CEO leaving...could it be to head the New Voom

[truqui]

Anyone think this may be Voom related in the future???
Who knows...he wants to stay in Nwe York...!!!


The Hollywood Reporter
March 08, 2005


DirecTV's president, CEO Stern leaving


By Georg Szalai
NEW YORK -- In a surprise executive departure, News Corp.-controlled satellite TV giant DirecTV Group said Monday that Mitch Stern, who served as president and CEO of the DirecTV service since Dec. 2003, is leaving the company effective immediately.

The company doesn't plan to replace him. DirecTV Group president and CEO Chase Carey will now oversee day-to-day operations of the DirecTV service, with all of Stern's direct reports now set to report to Carey.

DirecTV didn't immediately give a reason for Stern's departure. But one industry source Monday said that Stern, who was based in New York, constantly traveled to the West Coast on business, and he started feeling this affected his family life.

DirecTV didn't say if Stern already has new career plans. Asked if he could resurface somewhere else within the News Corp. empire, a News Corp. spokesman said there are no such plans right now.
"While we considered 2004 a transition year, DirecTV achieved a tremendous amount under Mitch's leadership," said Carey in a statement. "DirecTV is well positioned to go forward and build on its leadership position in the pay television industry."

Said Stern: "DirecTV is a great success story and a fabulous business with a very promising future. While it was exciting to be part of such a dynamic organization, the time was right for me to move on."

Story Here

 

[Walter L.]

If so, I just hope it doesn't mean that we get HDLite

 

[Ty2083]

Truqui, it's possible I guess, but not probable. I, for one, think it could be a good deal for Voom to have someone with that kind of experience at the helm. Who knows what Chuck will do if he gets control today......it might be an interesting twist, though, don't you think?

 

[truqui]

Wouldn't surprise me at all, given the current events in the Satellite TV world (mainly in CVC/Voom/E*)
Who knows???

 

[gutter]

Coincidence? We will know in a few minutes or hours.

 

[T2k]

Highly unlikely.
As far as I know (as a CTO) higher management contracts usually have a dedicated part about leaving the company, including how long you cannot join its competitors (in return you typically get a nice goodbye bonus).
Of course, it depends on that particular company, its field etc, so I could be wrong in this case.

 

[truqui]

Highly unlikely.
As far as I know (as a CTO) higher management contracts usually have a dedicated part about leaving the company, including how long you cannot join its competitors (in return you typically get a nice goodbye bonus).
Of course, it depends on that particular company, its field etc, so I could be wrong in this case.

Sure...non compete clauses are most likely in his contract but nothing $$$
can't overcome...!!!

It all may be a coincidence but I find the timing and unofficial reasons for his departure, to be sort of weak for a person in that position!
We shall see...!!!

 

[Walter L.]

"DirecTV didn't immediately give a reason for Stern's departure. But one industry source Monday said that Stern, who was based in New York, constantly traveled to the West Coast on business, and he started feeling this affected his family life."

Well, the new VOOM company is based on New York and he wouldn't have to travel to the west coast anymore. Another coincidence?

 

[truqui]

Yup...that's what I mentioned in my first post..."he wants to stay in New York..."

This would be playing right into his hand...

 

[d151b]

if mitch joins the good folks at voom, hopefully he can swing a deal to get nfl sunday ticket.

 

[The Stone Man]

President and CEO, and they aren't going to replace him? That seems odd to me. T2k is right about the executive contract and the non-compete clause that is usually part of it. Mr. Stern held the current position for 14 months, and went accross a year-end, so he probably stuck around long enough to get a bonus for 2004.

 

[r.jones1116]

Yup...that's what I mentioned in my first post..."he wants to stay in New York..."

This would be playing right into his hand...

Chuck probably made him an offer he couldn't refuse.

 

[gutter]

John Malone, New CVC board member is a big stockholder in News Corp and tried to get more but Ruppert cut his b*lls off and prevented it.

These are all strange connections on this particular day and the story came out while the CVC was in meeting. I know I am putting 2 and 2 together and coming up with 17.

 

[truqui]

President and CEO, and they aren't going to replace him? That seems odd to me.

Yes this seemed strange to me too but it might be that D* wasn't expecting it and as a "defense mechanism" that's their rection. Almost like saying "well we will be fine without him..."

It's just too close to say "it's impossible..."

 

[James Long]

Coincidence? We will know in a few minutes or hours.

Probably quit out of depression knowing he will never beat Voom ...

Or maybe not.

JL

 

[1080iBeVuMin]

> DirecTV CEO leaving...could it be to head the New Voom?

Too weird.

Gadzooks, I can't get any work done today...

 

[Kentstater72]

Maybe he is not going to Voom but to CVC to replace James.

 

[truqui]

Maybe he is not going to Voom but to CVC to replace James.

Ha...another possibilty...you never know!!!

 

[DarrellP]

I sure hope to Hell not! Voom's PQ is bordering too much on HDLite as it is, all a D* person would do is dumb it down even further, kiss PQ goodbye, right vurbano?

 

[truqui]

Well...they weren't going to replace him???

Fox's David Hill to be Named DirecTV COO
March 07, 2005
By John Consoli

David Hill, Fox Sports chairman and CEO, is expected to take on additional duties as COO of DirecTV, Inc., where he will handle the day-to-day running of the satellite network, along with Chase Carey, president and CEO of The DirecTV Group, which oversees DirecTV Inc.

It was announced earlier today that Mitch Stern, president and CEO of DirecTV, Inc., is leaving that position, and that Carey, who was named president and CEO of The DirecTV Group in December 2003, would also assume Stern's role.

This latest move, which has not been officially announced, means Carey will get additional support from Hill, according to sources inside Fox.

Ed Goren, Fox Sports president, will take on a larger role within that organization, assuming some of Hill's current responsibilities.

Fox Entertainment Group, which is more than 80 percent owned by Fox parent News Corp., owns 34 percent of The DirecTV Group.

Hill has been chairman and CEO of Fox Sports since June 1999. Prior to that, from September 1997, he was chairman and CEO of Fox Broadcasting Co. He was also Fox Sports president from 1993 to 2000.

Here's the Mediaweek story