- Sep 8, 2003
From our friends at SkyReport.com
News Corp. Chairman Rupert Murdoch told attendees at the company's annual meeting in Australia this week that once the media giant gains a controlling stake in Hughes and DirecTV, it plans on some changes.
"It is our intention to immediately set about improving the DirecTV experience for consumers, with enhanced interactive services, broader local-into-local coverage, new technological offerings, such as personal video recorders, and greatly improved customer service," Murdoch said at the meeting in Adelaide. "All these things will, I believe, enable us to compete head-to head with the presently dominant cable companies by giving consumers greater choice and better services."
Murdoch said he expects the transaction, which will give News Corp. a 34 percent stake in Hughes, to close by the end of the year.
"The anticipated completion of the DirecTV transaction will mark the culmination of a long-time pursuit by our company of providing the missing link in a global satellite television platform that will span four continents and encompass 23 million subscribers at its beginning," Murdoch said, "all of which will give us, I believe, the perfect balance of assets for a media company, the right mix of subscription and advertising revenues, the right mix of content and distribution businesses, and a geographic breadth that is unmatched by any media company in the world today."
News Corp. controls, and/or operates satellite TV platforms in Europe and Latin America.