News hopes for DirecTV approval this year

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John Corn

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Sep 6, 2003
North Canton, Ohio.
NEWS Corporation chief executive and chairman Rupert Murdoch said yesterday News hoped to receive approval for its DirecTV acquisition by the end of the year.

He said the digital satellite television company, which News Corp is acquiring by taking a 34 per cent stake in Hughes Electronics, would be "transformative" for News Corp.

"Pending regulatory approvals for the deal, which we hope to secure by the end of the calendar year, our plan to offer enhanced interactive services, technological innovations and improved marketing and customer service will provide both superior service for American consumers and accelerated growth for shareholders," he wrote in the group's annual report.
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