News Corp. Expects Hughes Cost Savings

From Bloomberg News

News Corp. expects to boost operating income at Hughes Electronics Corp. and its DirecTV service by as much as $765 million a year through cost savings and higher sales at the satellite broadcaster, the companies said in a regulatory filing.

News Corp., led by Chief Executive Rupert Murdoch, agreed last month to buy 34% of Hughes for $6.6 billion. The purchase would complete a 20-year effort by Murdoch to acquire such a system in the U.S. and augment his satellite TV holdings in Europe, Asia, Latin America and Australia.