Industry sources say Rupert Murdoch's News Corp. is close to a deal to take control of the largest US satellite television provider DirecTV and create a US$70 billion global network.
Negotiations between Ruport Murdoch's News Corp. and General Motors are continuing over a takeover bid for DirecTV, but the GM board will not vote on the proposal at a regularly scheduled meeting later today.
Shares in News Corp jumped three percent Monday, as fund managers continued to speculate that media mogul Rupert Murdoch could take control of US satellite television provider DirecTV.
Rupert Murdoch's News Corp, the world's fifth-largest media conglomerate, has denied that talks with US direct satellite television broadcaster EchoStar Communications have failed.
News Corp says the pending sale of Fox Family cable channels to Walt Disney has "zero implications" for its talks to buy DirecTV.
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