Directv Woes

[einstein99]

http://www.usatoday.com/tech/techinvestor/techcorporatenews/2002-09-25-dbs_x.htm


EchoStar, for its part, simply says that it's "continuing to work" with regulators by giving them information.

In a memo to Hughes employees Wednesday, the merger partners said, "The transaction should be approved on its merits." If it isn't, then Hughes "will have a variety of options to consider."

But the company discounted the possibility of a management buyout at DirecTV. "There are no such options under consideration," Jamison says.

Meanwhile, DirecTV told analysts that cash flow in the third quarter will be higher than expected — because it will have fewer subscribers than it projected. It blamed the shortfall on a weak economy and a crackdown on subscribers who used hacked decoder cards to get free premium channels.

"It's bad because subscriber growth is shrinking," says Steve Mather of Sanders Morris Harris. "While they have a half-decent answer, it's a bad situation."

[einstein99]

Oops,

this was already posted, sorry

ein

[thepoet]

Don't get your hopes up that DirecTV is on its last legs. If you check the Hughes annual report, DirecTV is the one bright spot in the Hughes lineup. It's HUGHES and HUGHES SYSTEMS that consistently lose money. DirecTV actually shows a yearly positive cash flow, and if on its own would be a credible enterprise. As for a management buyout, it's WAY too early to speculate what will or won't happen. The management statement is just that - just a preliminary statement addressing rampant media speculation which may or may not be true. (It's not like this management statement was an official document filed before the S.E.C.!) The fact is, it would be foolhardy for DirecTV management to say otherwise while the merger (and the official line on that subject) is still on the table. In my opinion the real question isn't whether a management buyout is possible or under consideration, but what the liklihood of such a manuever happening at all may be considering that News Corporation may well launch a counter-merger offer blitz if Justice kills the current merger proposal as anticipated. Rupert Murdoch got blindsided by Charlie Ergen last Fall. The wiley Aussie very likely learned a lesson that he can't bluff his way to a fire-sale bargain when negotiating with G.M. If he still wants DirecTV (and, I think he does) he'll have to PAY for it. It's also possible that G.M. took the high stakes risk of playing Charlie off against ol' Rupe with last fall's merger announcement, BETTING that a merger with Dish Network would never fly in the face of regulatory scrutiny (but negotiating liveably sweet merger terms in case it did - a classic application of the, "Heads we win, tails you lose." theory of negotiating). These aren't kids playing marbles in a dirt lot, and I wouldn't want to sit in on a hand of poker with any of 'em.

[To The Real King!!]

Hi Guys,

GM or DirecTV™ have filed a sealed lawsuit against NDS and now Charlie Ergan has filed on behalf of Echostar and DISH is certainly likely to win since the evidence is clearly that it did happen. He has not filed total damages YET but its likely as big or bigger than Canal + which is $3 billion. Ad we don't know how much the GM suit is for but you can be sure its big. Add that to the canal + suit and you have well in excess of $6 billion dollars of liability for Rupies company with a total net worth of under 500 million (NNDS). And Nagra are in there too since DirecTV™ paid them $100,000.00 to make a sample and submit a proposal but cancelled when the card was hacked (and told them it was because of the hack). Rupie knows a little about that and the proof has already been deposed to by Jan Saggiori who submitted the actual code and a letter from Tarnovsky about it :)

There is lots of other proof too so I don't think there is any chance of Rupie getting back into this DirecTV™ game at all apart from the fact that I think the deal is likely to be accepted in the end. They may require some commitments but if they get them the deal may well go ahead.http://www.legal-rights.org/images/ttrk.gif

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Thanks & Good Luck,
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To The REAL King!!

Freedom has nothing to fear from the truth!
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[Dean_M_Love]

....there is no doubt DirecTV wants nothing to do with anything even closely related to NDS....