Echostar Exits from DirecTV Battle, Cedes Field to Murdoch

16 July 2001

Concern over likely antitrust issues is the given reason for the abrupt withdrawal of chairman Charlie Ergen from his machinations to snatch DirecTV from the outstretched arms of Rupert Murdoch.

What wrought this sea-change in Ergen’s ambitions in unknown but the antitrust situation appears to have changed little since he formally declared his interest in DirecTV [WAMN: 25-May-01].

According to insiders, EchoStar’s withdrawal as a potential suitor for DirecTV’s parent company Hughes Electronics, means that an agreement with Murdoch’s NewsCorp is probably within the next few weeks.

News source: Wall Street Journal