spacetoday.net: Four companies to bid for DirecTV

Posted: Fri, Mar 28, 2003, 7:41 AM ET (1241 GMT)
As many as four companies are expected to place bids by a Friday deadline to acquire satellite television provider DirecTV, Reuters reported Thursday. Analysts had expected three companies — News Corporation, Liberty Media, and SBC Communications — to submit bids to DirecTV's parent, General Motors, on Friday. However, Reuters reported that cable television company Cablevision is also expected to submit a bid. Cablevision has shown an interest in the satellite television market, and plans to launch its first direct broadcasting satellite later this year. Late Thursday Liberty Media announced it would increase its stake in News Corp. by $500 million, a move that may suggest that Liberty Media will not make a bid for DirecTV on its own; the two companies had previously talked about cooperating on a bid but those efforts fell through.