GM nearing DirecTV sale - Broadcasting & Cable

GM nearing DirecTV sale

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General Motors is reportedly on the verge of choosing the winning corporate suitor for its DirecTV satellite TV operation.

The New York Times reports that EchoStar appears to have an edge over News Corp. in the bidding war between them that could peak around $22 billion. But News Corp. is apparently trying to stir antitrust fervor in Washington against an EchoStar takeover of its satellite TV arch-rival.

The key to success for EchoStar, according to the Times, is completion of a $5.5 billion line of credit through UBS Warburg and Deutsche Bank by the time GM's board meets on Saturday.

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