Rupert Murdoch's News Corporation has evolved into a global media conglomerate. News Corp's television reach extends to millions of homes worldwide. The company recently acquired DirecTV from GM. With this acquisition, Murdoch has captured access to 12 million subscribers in the US. This marks a pivotal turn in Murdoch's 50-year rise from an Australian newspaperman to one of the world's most powerful businessmen. DirecTV is also expected to fortify Murdoch's own channels against competition from Comcast and Time Warner.

For News Corporation, completing this transaction would mark the culmination of our long-time pursuit of satellite TV distribution in the US and provide the missing link in an unprecedented global satellite television platform. Rupert Murdoch, 71, (Murdoch), News Corp's Chairman, seemed to be on top of the world in early 2004. The US Federal Communications Commission (FCC) had approved News Corp's bid to purchase a controlling interest in General Motors (GM) subsidiary, Hughes Electronics Corporation (Hughes), on December 19, 20032.

Under the terms of the US$6.6 bn deal, Hughes would become an independent company. News Corp, with a 34% stake in the company, would become the largest single shareholder in Hughes, giving it a controlling interest in the company. The deal would give News Corp control of Hughes' DirecTV satellite television service (DirecTV), which serviced 11 million homes in the US. The US Department of Justice announced it would not be challenging the acquisition.

controlling, Rupert, global, become, access, competition, completing, conglomerate, control, against, announced, approved, culmination, December, Department, Australian, distribution, Electronics, evolved, expected, extendscompany, DirecTV, Hughes, Corporation, Corp's, Murdoch, Murdoch's, satellite, television, interest, million, acquisition,