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DirecTV Files For Secondary Common Stock Offering
The DirecTV Group Inc. has filed an amendment to its registration statement with Securities and Exchange Commission in connection with the commencement of a secondary offering of common stock. The selling stockholders–General Motors Special Hourly Employees Pension Trust, General Motors Special Salaried Employees Pension Trust and the Sub- Trust of the General Motors Welfare Benefit Trust–will be offering to sell an aggregate of 55 million shares of common stock and intend to grant the underwriters an option to purchase 5.5 million additional shares. DirecTV will not receive any proceeds from this sale.
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