FCC Halts Review of EchoStar Merger Plan
Federal regulators halted a review of satellite television company EchoStar Communications Corp.’s proposed $26-billion merger with Hughes Electronics until EchoStar provides more data.
EchoStar, which offers Dish Network, and Hughes, the parent of DirecTV and a unit of General Motors Corp., are seeking government approval for a merger that would create the largest pay-TV service in the country.
Some data requested were filed Wednesday with the Federal Communications Commission, but some critical information was not, said an FCC official who spoke on the condition of anonymity.
EchoStar representatives could not be reached for comment on the news, which came after the markets closed. Hughes officials refused to comment.
EchoStar shares fell $1.27 to close at $26.14 on Nasdaq, but gained 14 cents in extended trading. General Motors H fell 80 cents to $15.10 on the New York Stock Exchange and was little changed in after-hours trading.
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