News Broadcasting
Satellite deal between EchoStar, Hughes off
NEW YORK : It was a deal that could have created a satellite behemoth. But US satellite television service provider EchoStar Communications Corp, on Tuesday said it had abandoned its proposed $18 billion acquisition of larger rival Hughes Electronics Corp due to stiff opposition from regulators.
Both the US Justice Department and the Federal Communications Commission, which feared the deal would stifle competition in the pay TV market were successful in killing the deal. Hughes, which operates the DirecTV service, and EchoStar, which owns the Dish Network, said in a joint statement that they had agreed to end the deal because it “could not be completed within the time allowed by the merger agreement.”
The deal, announced in October 2001, was supposed to help both companies compete successfully with cable operators, and envisioned offering local television service in every US market, apart from offering high speed Internet access via satellite to rival the services offered by cable companies. Each currently only has enough capacity to offer local channels in a portion of the country on its own.
Regulators however foresaw ‘too much power in rural markets that had no access to cable’ in the proposed merger. The Justice Department and 23 states sued to block the merger, with a federal judge setting a trial date for late February at the earliest. Authorities also maintained that even in areas cable was available, viewers’ choices would be effectively be reduced to two from the earlier three.
Under the terms of the deal, Hughes had the right to walk away from the deal after Jan. 21 and collect a $600 million break-up fee. EchoStar was also obligated to buy Hughes’ 81 percent stake in satellite service PanAmSat Corp. for $2.7 billion. But in an agreement to abandon the deal early, EchoStar agreed to pay the break-up fee, but was released from its obligation to buy PanAmSat.
EchoStar will write off about $700 million in the fourth quarter for the merger break-up fee and other related expenses.
The termination now opens the doors for Hughes to pursue other potential deals, including one time suitor News Corp, although neither company was willing to go on record about it, say reports. Last year, News Corp. proposed combining Hughes with his own network of satellite services and spinning the entity off as a publicly trade company, with Microsoft Corp. and Liberty Media Corp. contributing cash to the venture to buy out GM’s stake, reports say.
News Broadcasting
Business Today MindRush returns to Mumbai, spotlight on India’s edge in a fractured world
Policymakers and corporate heavyweights gather to map supply chains, energy security and markets
MUMBAI: As fault lines widen across global trade and geopolitics, Business Today is doubling down on India’s moment. The 14th edition of Business Today MindRush & Best CEOs Awards lands in Mumbai on March 28, pitching India’s strategic edge at the centre of a fragmenting world.
The day-long summit, presented by PwC, will bring together a tight mix of policymakers, industry leaders and market voices to decode shifting supply chains, maritime strategy, defence priorities, energy security and capital markets—sectors now deeply entangled with geopolitics.
M Nagaraju, secretary, department of financial services, ministry of finance, will headline the event, setting the tone for discussions that aim to track how India is repositioning itself amid disrupted trade routes and volatile energy dynamics.
The speaker slate reads like a cross-section of India Inc’s command centre. Krishna Swaminathan will zero in on sea lanes and supply chains, while Prashant Ruia is set to push the case for self-reliance in oil and gas. Ashish Chauhan will weigh in on capital markets at a pivotal juncture, as a panel featuring Vibha Padalkar, Sanjiv Mehta, Amish Mehta and Sanjeev Krishan debates navigating economic uncertainty.
Leadership under pressure will be another running theme. Madhavkrishna Singhania, Sharvil Patel, Karan Bhagat and Anurag Choudhary will unpack how businesses are steering through disruption. Arun Alagappan will turn the spotlight on fertilisers, Arundhati Bhattacharya will reflect on leadership transitions, while Anish Shah and S Vellayan will outline blueprints for building future-ready conglomerates.
The event will close with Aroon Purie setting the broader editorial lens, before the Best CEOs Awards recognise standout corporate leadership across sectors.
At a time when the global order looks increasingly splintered, MindRush 2026 is positioning itself as more than a conference—it is a signal that India intends not just to navigate the churn, but to shape it.
