DirecTV on Tuesday reported spectacular results for the last quarter of 2000 as it added 527,000 new subscribers to bring its total to 9.5 million. In an SEC filing, parent Hughes Electronics said that it had narrowed losses in the quarter to $50 million from $284 million.

It also noted that business could have been even better if it had not been for the fact that severe winter weather had prevented it from installing dishes in 110,000 homes where they had been ordered. Meanwhile, the London Financial Times reported that in addition to numerous retrenchment schemes, Rupert Murdoch is considering selling some of News Corp's assets in order to raise an estimated $40 billion to buy DirecTV.

Source: Studio Briefing