AOL Time Warner this week sold its 8.4 percent stake in Hughes Electronics for around $800 million. AOL sold the stake in Hughes–parent of DirecTV, Hughes Network Systems, and PanAmSat [SPOT]–in a block trade to Bank of America, which is expected to resell the shares on the open market, according to the Wall Street Journal. The media giant needs to shed $26 billion in debt, and has been looking at asset sales, including its book publishing division and other non-core assets.
AOL Time Warner Sells Hughes Stake
Trending Now
-
10 Hottest10 Smallsat Startups to Watch in 2026
-
Government/MilitaryWhite House Targets Support for 1,000 Launches Per Year by 2030
-
Government/MilitaryNOAA Contracts Muon Space, Weather Stream, and Spire for TMATE Project
