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BRIEFLY

International Business Machines and Hughes Aircraft of Los...

September 20, 1988

International Business Machines and Hughes Aircraft of Los Angeles announced that Hughes would purchase a minority stake in IBM's Satellite Transponder Leasing Corp. subsidiary. Terms of the deal were not disclosed, but the companies said Hughes will have exclusive marketing rights for services provided by the IBM unit's communications satellites. Hughes will market the satellite services to corporate customers and the television news industry.

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