DirecTV/News Corp. Deal Challenged
By Staff Writer | October 20, 2004
Satellite Today has learned that Darlene Investments LLC, which owns 14 percent of DirecTV‘s [DTV] Latin American operations, has filed suit in Miami-Dade Circuit Court in Florida to block the announced plans by News Corp. and DirecTV to consolidate their Latin American satellite operations. According to reports, the suit alleges that DirecTV’s assets were undervalued in the transaction and that News Corp. intends to dismantle DirecTV’s Latin American operations.