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EchoStar, DirecTV planning merger countersuit
Posted: Wed, Nov 6, 2002, 7:30 AM ET (1230 GMT)
Satellite television companies EchoStar and DirecTV are considering a countersuit to the US Justice Department's suit to block the merger of the two companies, the Wall Street Journal reported Tuesday. The report said the companies were planning to file a countersuit as early as this week, after the Justice Department and 23 states filed suit in federal court to block the proposed merger. The companies sought a trial date as early as this month during a hearing Tuesday, but the federal judge instead set a trial date for February or March of 2003. This means the merger could be off before the trial even starts: DirecTV officials have hinted they could exercise an option in their merger agreement to walk away if the merger is not completed by January 21.
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