AOL Time Warner decided to sell its stake in Hughes as part of its debt reduction strategy. The sale has removed a significant obstacle in the path of Murdoch’s News Corporation and its US rival Echostar to gain control of DirecTV, the largest pay TV satellite broadcaster in the US.
Hughes has reached agreements with both News Corporation and Echostar over the past two years, but both deals fell through. Speculation is mounting that the two rivals could now be discussing a joint bid for the company.
