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BUSINESS
August 14, 1996 | Times Staff and Wire Reports
Firms to Cut Prices on Digital Receivers: Leading U.S. direct-broadcast satellite television companies are preparing a campaign to slash prices on the $600 to $700 receivers required for the multi-channel services. Spokesman Bob Marsocci of DirecTV--the television-programming unit of Los Angeles-based Hughes Electronics Corp.--and a spokeswoman for U.S. Satellite Broadcasting Co.
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BUSINESS
November 21, 1996 | Bloomberg Business News
U.S. Satellite Broadcasting Co. said it expects to reach the break-even point on a cash-flow basis by late June. Stanley E. Hubbard, the St. Paul, Minn., company's chief executive, told investors that sales growth has continued since Sept. 30, when the satellite broadcaster broke the 1-million subscriber mark. He said holiday sales will be especially important. "Our manufacturers and retailers are all confident about a good holiday selling season," Hubbard said.
BUSINESS
April 2, 1999 | Bloomberg News
Hughes Electronics Corp., owner of No. 1 satellite television company DirecTV Inc., won approval from federal regulators to buy rival U.S. Satellite Broadcasting Co. for $1.25 billion, adding customers and channels. The acquisition, announced in December, will help boost competition with cable-TV companies for the $43.5-billion-a-year U.S. home-TV subscription market, the Federal Communications Commission said. Cable-TV companies such as leader Time Warner Inc.
BUSINESS
June 5, 1999 | Bloomberg News
Hughes Electronics Corp. and its DirecTV Inc. unit, the largest U.S. provider of satellite television, filed a countersuit against the National Rural Telecommunications Cooperative, escalating a dispute over programming sales rights. The companies are asking the California Superior Court in Los Angeles to rule that the NRTC is not entitled to market or bill for any of the programming DirecTV obtained in buying U.S. Satellite Broadcasting Co. in May.
BUSINESS
June 4, 1999 | From Bloomberg News
The National Rural Telecommunications Cooperative is suing DirecTV Inc., a unit of El Segundo-based Hughes Electronics Inc., to enforce its right to sell HBO, Showtime and other premium programming that DirecTV acquired when it bought U.S. Satellite Broadcasting Co. NRTC, the largest satellite-television provider to rural U.S. homes, filed suit in federal court in Los Angeles after DirecTV began marketing the premium programs to its customers. DirecTV, the largest U.S.
BUSINESS
October 14, 1999 | From Bloomberg News
Hughes Electronics Corp. on Wednesday reported a third-quarter loss as rising sales at its DirecTV unit, the largest U.S. satellite-television service, were more than offset by higher costs and interest expenses. Hughes' loss from operations was $29.6 million, or 13 cents a share, compared with net income of $42.9 million, or 11 cents, in the year-ago period. Sales rose 32% to $1.99 billion from $1.51 billion. The El Segundo-based company, a unit of General Motors Corp.
BUSINESS
January 20, 2000 | From Times Staff and Wire Reports
Hughes Electronics Corp. on Wednesday reported a fourth-quarter loss as higher costs more than offset record subscription growth at its DirecTV unit, the nation's leading satellite television service. The loss of $231.8 million translates to 58 cents per share--a penny better than the 59-cent loss that analysts surveyed by First Call/Thomson Financial had predicted. It compares with earnings of $123.1 million, or 32 cents a share, a year earlier. Sales rose 54%, to $1.7 billion, from $1.
BUSINESS
March 1, 1992 | JAMES FLANIGAN
If American consumers are having an anxiety attack, does that mean that the recession is all in their minds? No, but that's what much of the commentary would have you believe, with talk of America traumatized at the loss of its dream or awakening only now from delusions of prosperity. Mostly that's nonsense. The real problem is economic, not psychological.
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