May 3, 2005 |
DirecTV Group Inc., the largest U.S. satellite television service, said Monday that its first-quarter loss narrowed to $41.4 million as it signed up more subscribers than analysts had expected. The net loss shrank to 3 cents a share from $638.8 million, or 46 cents a share, a year earlier, when the El Segundo-based company recorded $789.1 million in costs for an accounting change and the sale of its PanAmSat unit. Sales rose 26% to $3.15 billion, DirecTV said.
April 7, 2005 |
DirecTV Group Inc., the biggest U.S. satellite TV firm, canceled a planned $500-million junk bond sale rather than pay the higher interest rates investors have demanded on lower-quality bonds since early March. The company said it would instead borrow more under a planned loan arrangement with its banks. The proceeds would be used to refinance existing debt. "We felt the economics were more favorable going this route," DirecTV spokesman Bob Marsocci said Wednesday.
March 18, 2005 |
Rupert Murdoch on Thursday tapped his longtime go-to guy, David Hill, to become president of the newly created DirecTV Entertainment group, with a goal of jazzing up the satellite television giant's offerings. One of sports' most influential executives, Hill will remain chairman of the Fox Sports Television Group but will give up day-to-day management duties. News Corp. owns Fox and is DirecTV's largest shareholder. The 58-year-old Hill will join El Segundo-based DirecTV Group Inc.
March 8, 2005 |
The president of DirecTV abruptly resigned Monday, a little more than a year after he was handpicked for the job by News Corp. Chairman Rupert Murdoch in the wake of his takeover of the satellite TV leader. DirecTV executives said no replacement would be named for Mitchell Stern, who had been commuting weekly between New York and the company's El Segundo headquarters. Instead, sources said, the company would be run by DirecTV Group Inc. Chief Executive Chase Carey and two other News Corp.
February 10, 2005 |
DirecTV Group Inc., the largest U.S. satellite television operator, said the Securities and Exchange Commission wouldn't require a change in how it accounted for a write-down and businesses the company bought and sold last year. DirecTV, which is majority owned by News Corp., in January said the SEC wanted details on how it accounted for transactions involving Pegasus Communications Corp., the National Rural Telecommunications Cooperative and Thomson in the second quarter.
November 3, 2004 |
DirecTV Group Inc. reported a significantly larger third- quarter net loss after writing down the value of two satellites that will be switched to transmit TV signals rather than provide Internet access. The El Segundo-based company reported a net loss of $1.01 billion, or 73 cents a share, in the three months ended Sept. 30, compared with a loss of $23 million, or 2 cents, a year earlier. Revenue increased 20% to $2.86 billion from $2.38 billion in the same quarter last year.
August 13, 2004 |
DirecTV Group Inc. said Thursday that, in the wake of a satellite propulsion system failure, Kohlberg Kravis Roberts & Co. and two other buyout firms would pay it $200 million less than the amount originally agreed on for an 80.4% stake in PanAmSat Corp. El Segundo-based DirecTV, the nation's biggest satellite television service, will get a total of $2.6 billion for its stake in PanAmSat from KKR, Carlyle Group and Providence Equity Partners. The agreement doesn't affect the $23.
August 3, 2004 |
DirecTV Group Inc. plans to buy the satellite television assets of Pegasus Communications Corp. and settle a legal squabble for $938 million, the companies said Monday. The companies have bickered in and out of court for the last five years over the length of Pegasus' resellers contract. The deal brings a resolution to years of feuding. It also lets News Corp.-controlled DirecTV quickly apply triage to Pegasus' under-performing rural markets.