FCC Seeks More Data on News Corp. Deal
From Reuters
The Federal Communications Commission said it would need more time and information to review News Corp.’s $6.6-billion proposal to take control of DirecTV, a unit of Hughes Electronics Corp.
In a letter to lawyers for the companies, the FCC said it was stopping its 180-day clock on considering the deal that would give News Corp. a 34% stake in Hughes and control of the No. 1 U.S. satellite broadcaster.
The agency also said it needed additional consultation with the Justice Department, which is reviewing the deal on antitrust grounds.
