DirecTV Parent Acquires Broadband Provider

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Hughes Electronics Corp., parent company of DirecTV, announced yesterday that it will acquire Telocity, a digital subscriber line broadband service provider.


The company will acquire Telocity for $2.15 per share in cash, or a total purchase price of about $180 million.


Hughes Electronics plans to integrate the broadband capabilities of Telocity with the interactive television technology of DirecTV to create a system that can deliver digital video and high-speed data to DirecTV customers.


Hughes Electronics also this week launched a nationwide broadband service via satellite, which the company claims will complement the Telocity DSL service.


DirecTV serves more than 9 million customers nationwide. Telocity provides a broadband network that extends across 140 U.S. metropolitan areas.
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