LITTLETON, CO: Pay-TV broadcaster EchoStar is to sell a 37% stake in the company to News Corp. and telecomm MCI WorldCom in return for satellites and broadcast licenses.
Shares in the Colorado-based EchoStar rose on Monday when the deal was announced. By mid-morning the stock had gained three and a half points to 38.5.
As part of the deal News Corp. will gain 24.3 million Class A shares and MCI WorldCom will gain six million.
In return, News Corp. will ...