Hughes Changes Name To DirecTV Group

By | March 17, 2004 | Uncategorized

El Segundo, Calif.-based Hughes Electronics [HS] changed its name Tuesday to “The DirecTV Group.” In addition, DirecTV Group will use the ticker DTV on the New York Stock Exchange (NYSE) rather than the HS symbol used by Hughes. The company began trading under the new name and symbol today.

Chase Carey, president and CEO of the DirecTV Group, said the future of the company is centered on the DirecTV satellite TV service and that business will drive the parent’s strategy and shareholder value going forward.

“Our new name better reflects our commitment to building our business around DirecTV, the established leader in digital multichannel television service in the United States,” Carey said. “With more than 12.2 million customers, the DirecTV name and brand resonates with consumers and this name change reaffirms and reinforces that our future lies with this business.”

The parent company’s business units, DirecTV, Hughes Network Systems, DirecTV Latin America and PanAmSat [SPOT], will remain with The DirecTV Group, its officials said.

The DirecTV Group also will receive a new corporate logo. In addition, the company’s web site URL has changed to “directv.com.”

For in-depth coverage of this story, see the March 22 issue of Satellite News. For more information about subscribing to PBI Media’s satellite newsletters, check out our Web site at http://www.satellitetoday.com.

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