Hughes to buy a satellite TV competitor; $1.3 billion deal to leave 3 providers

Article Abstract:

Hughes Electronics and U.S. Satellite Broadcasting Co. will make it easier for all their joint customers of satellite TV by joining forces officially. Hughes will pay $1.3 billion in cash and stock for U.S.S.B. in a deal that reduces their competition to only three others. The stock in the deal will be General Motors' stock, owner of Hughes. Hughes' DirecTV has almost 4.3 million subscribers, but the company doesn't expect any problems from the FCC or antitrust regulators. It has not announced how many jobs will be cut as a result of the acquisition.

Asset sales & divestitures, Acquisitions & mergers, Telephone communications, exc. radio, Satellite Telecommunications, Satellite TV Communications, Mergers, acquisitions and divestments, Hughes Electronics Corp., GMH, Direct broadcast satellite television, Satellite television, United States Satellite Broadcasting Company Inc., USSB

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Mattel reports loss and says it will cut jobs

Article Abstract:

10% of Mattel's 29,000 employees will find their jobs eliminated starting next week. The toy maker continues to cut costs and restructure as sales declined and first quarter earnings were down. Some manufacturing plants will also close. Rival Hasbro had a banner quarter in stark comparison. Mattel's plans to open an online store, that will in some way include retailers, have sparked interest.

Comment:

More cost-cutting means 3,000 lose jobs

Games, Toys & Children's Vehicles, Game, Toy, and Children's Vehicle Manufacturing, Games, toys, and children's vehicles, Other staff changes & profiles, Planning, Human resource management, Finance, Toy industry, Toys, Mattel Inc., MAT, Layoffs

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