Hughes said Boeing was the initial high bidder.
- Share via
The Seattle-based aerospace firm had submitted the highest bid for Hughes Aircraft before an eleventh-hour round of bidding later on June 4 resulted in General Motors being the winner at $5 billion, a Hughes official confirmed. Analysts speculated that General Motors increased its bid after learning that Boeing had submitted the apparent top bid. Boeing declined to comment on the bidding process.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
