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News Corp. Chairman Rupert Murdoch‘s yearlong struggle to gain control of satellite broadcaster Hughes Electronics Corp. appears more problematic than ever, hurt by recent sharp declines in Hughes’s share price and momentum on the part of a rival bid from EchoStar
Communications Corp.
Senior executives at Hughes and its parent, General Motors Corp., have become concerned that the price of Hughes stock — which fell Friday to its lowest point in more than a year — threatens to become a major new hurdle to clinching a deal with News Corp.
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