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US regulators approve News Corp's takeover of DirecTV
WASHINGTON (AFP) Dec 20, 2003
US regulators on Friday approved News Corp's takeover of GM Hughes Electronics, the parent of satellite giant DirecTV, in a 6.6 billion dollar deal.

The Justice Department said in a statement that it would not challenge the deal, following the approval of the Federal Communications Commission.

The FCC did impose certain conditions on News Corp's licensing of regional sports networks and granting of retransmission consent for its Fox Broadcasting Network, the statement said.

"We're delighted to have received clearances from the FCC and DOJ and we intend to close this transaction with GM in the next few days," News Corp chief Rupert Murdoch and the former co-chief operating officer Chase Carey said in a statement.

"Combining Hughes' exceptional knowledge and history of satellite innovation with News Corporation's and Fox's creative talents and record of success in satellite television will result in a company with unmatched entertainment and technological offerings," they said.

News Corp., a sprawling media-entertainment conglomerate, struck a 6.6 billion dollar deal in April for a 34 percent stake in Hughes Electronics to gain control of DirecTV and include it as part of Murdoch's global media-entertainment empire.

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