The DirecTV Group

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DirecTV Group Inc.
Type	Public (NYSE: DTV)
Founded	1994
Headquarters	El Segundo, California
Key people	John Malone, Chairman
Industry	Telecommunication
Products	Direct broadcast satellite
Revenue	▲$13.164 billion (2006)
Operating income	▲$632.6 million USD (2006)
Net income	▲$335.9 million USD (2006)
Employees	9,200 (2006)
Website	directv.com

DirecTV Group Inc. (NYSE: DTV), is an American direct broadcast satellite television company formerly known as Hughes Electronics.

[edit] History

Hughes Electronics was formed in 1985 when Hughes Aircraft was sold by the Howard Hughes Medical Institute to GM for $ 5.2 billion. General Motors merged Hughes Aircraft with its Delco Electronics unit to form Hughes Electronics.

The group then consisted of: Delco Electronics Corporation, Hughes Aircraft Company, Hughes Space & Communications Company, Hughes Network Systems, and DirecTV.

1994: Hughes Electronics founded DirecTV.

1996: Hughes Electronics and PanAmSat agreed to merge their fixed satellite services into a new publicly held company, also called PanAmSat with Hughes Electronics as majority shareholder.

1997: GM transferred Delco Electronics to its Delphi Automotive Systems business.

1997: The aerospace and defense operations of Hughes Electronics (Hughes Aircraft) were merged with Raytheon. The remaining companies remained under the Hughes Electronics name and within GM.

2000: Hughes Electronics Corporation sold its Hughes Space & Communications Company manufacturing business to Boeing, now renamed Boeing Satellite Development Center.

2003: GM's interests in the remainder of the company, DirecTV, DirecTV Latin America, PanAmSat and Hughes Network Systems were sold to News Corporation/Fox Broadcasting in December. This group was renamed the DirecTV Group. News Corp. actually owned only 39% of DirecTV, however it was the largest single shareholder, and several DirecTV executives had strong links to News Corp.

2004: PanAmSat was sold to Kohlberg Kravis Roberts & Co. in August.

2006: SkyTerra Communications, Inc. completed its purchase of 100% controlling interest in Hughes Network Systems from the DirecTV Group in January.

2006: In November, News Corporation has reportedly agreed to transfer its interest in DirecTV Group to John Malone's Liberty Media. In return it will buy back Liberty's shares in News Corp., giving the Murdoch family tighter control of the latter firm.

2008: After receiving FCC approval, Liberty completes its acquisition of News Corporation's stake in DirecTV. Liberty was required by the FCC to sell its shares in either DirecTV's Puerto Rican operations or Liberty's cable provider in Puerto Rico.