TS News - Echostar Sues News Corp
TELE-satellit News, 10 May 1997
Echostar Sues News Corp
ENGLEWOOD, Colorado, USA, 97/05/10 (TS) -- Echostar said Friday that it
is suing News Corporation for $200-million. The company said it has filed
for a Declaratory Judgment in the United States District Court for the
District of Colorado and it confident of winning.
Apparently, News Corporation had promised to loan Echostar the money when
they announced plans to jointly begin digital satellite broadcasting in the
United States. Under the plan, News Corp was to take a 50-percent stake in
Echostar for $1-billion. Last week American Sky Broadcasting chief Preston
Padden quit the company and rumors began surrounding the relationship
between the two companies.
(c)TELE-satellit 1997. All rights reserved.
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