- Sep 8, 2003
From our friends at SkyReport.com
General Motors said stockholders approved transactions that will result in the split off of its Hughes Electronics subsidiary and News Corp.'s proposed acquisition of a 34 percent stake in the satellite business, including its DirecTV unit.
Of the stockholders who participated, about 94 percent of stock was voted in support of the proposal, GM said.
The News Corp./Hughes transaction is before regulators in Washington, D.C., awaiting approval.