Move to restructure ownership of Sky Latin America inches News Co...
Move to restructure ownership of Sky Latin America inches News Corp. closer to deal to land Hughes, analyst said. “They're just crossing the t’s and dotting the i’s,” CIBC World Markets analyst Jeff Wloderczak said. “It’s a foregone conclusion…
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that Hughes will end up with News Corp. There is a lot of noise about EchoStar, but the regulatory hurdles are just too high.” Agreement would allow New Corp. to take controlling interest in Sky Latin America. News Corp. currently owns 30% of company, and deal could also pave way for eventual merger with DirecTV Latin America, Wall St. Journal said. “This is one step of a very deliberate process that News Corp. is going through,” Wloderczak said. “One of the big upsides from their perspective is going to one platform in Latin America.” He said he expected to hear something by Labor Day on deal that has been in works for more than 18 months: “I don’t see how EchoStar is even going to be able to delay this deal much. GM has looked at EchoStar for a long time. It’s their fiduciary responsibility to look at the [EchoStar offer], but I don’t think it changes anything.”