DirecTV Group

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DirecTV Group Inc.
Type of Company	Public (NYSE: DTV)
Founded	1994
Headquarters	El Segundo, California
Key people	(Keith) Rupert Murdoch, Chairman
Industry	Telecommunication
Products	Direct broadcast satellite
Revenue	$13.164 billion (2006)
Operating income	$632.6 million USD (2006)
Net income	$335.9 million USD (2006)
Employees	9,200 (2006)
Website	directv.com

DirecTV Group Inc. (NYSE: DTV), is an American direct broadcast satellite television company formerly known as Hughes Electronics.

[edit] History

See also: Hughes Aircraft

Hughes Electronics was formed when Howard Hughes' Hughes Aircraft Company was sold to General Motors and merged with their Delco Electronics unit in 1985.

In 1994, Hughes Electronics founded DirecTV. In 1997, GM transferred Delco Electronics to its Delphi Automotive Systems business. Late in the year the defense operations of Hughes Electronics (Hughes Aircraft and missile business) were merged with Raytheon. The remaining companies remained under the Hughes Electronics name and within GM.

In 1996, Hughes Electronics and PanAmSat agreed to merge their fixed satellite services into a new publicly held company, also called PanAmSat with Hughes Electronics as majority shareholder. The corporation sold its commercial satellite manufacturing business to Boeing in 2000, now renamed Boeing Satellite Systems.

GM's interests in the remainder of the company, DirecTV, DirecTV Latin America, PanAmSat and Hughes Network Systems were sold to News Corporation in December 2003. This group was renamed the DirecTV Group. News Corp. actually owns only 39% of DirecTV, however it is the largest single shareholder, and several DirecTV executives have strong links to News Corp.

PanAmSat was sold to Kohlberg Kravis Roberts & Co. in August 2004. SkyTerra Communications, Inc. completed its purchase of 100% controlling interest in Hughes Network Systems from the DirecTV Group in January 2006.

News Corp. has reportedly agreed to transfer its interest in DirecTV Group to John Malone's Liberty Media; in return it will buy back Liberty's shares in News Corp., giving the Murdoch family tighter control of the latter firm.

[edit] Corporate divisions

• DirecTV - U.S. pay TV service
• DirecTV Latin America
• Sky Mexico
• Sky+DirecTV (Brazil)

[edit] External links

• DirecTV Corporate information
• DirecTV Latin America