Hughes Global Services Soon May Be Owned By PanAmSat
By Staff Writer | January 15, 2003
In an effort to tap into the growing satellite capacity needs of the U.S. government, PanAmSat Corp. [Nasdaq: SPOT] is planning on acquiring sister company Hughes Global Services (HGS).
PanAmSat, a subsidiary of HGS owner Hughes Electronics Corp. [NYSE: GMH], is looking to grow its business with the U.S. government and the purchase would spur those expansion plans, said Joseph Wright, PanAmSat’s president and chief executive officer. The deal is expected to close during the first quarter.