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.
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.
| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
about spacetoday.net · info@spacetoday.net · mailing list |
