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hughes 16 com Hughes Electronics Corp 6 million subscribers in 28 countries, it is the largest pay television service in the region DirecTV Latin America Files Chapter 11 Mar 18, 1:18 PM EST Satellite television provider DirecTV Latin America LLC said Tuesday it has filed for Chapter 11 bankruptcy protection, two months after its parent company hinted that the Latin American operation might do so Chapman had been named president and chief operating officer of the division McGrath spent nearly 26 years working for General Motors and related subsidiaries Feder, the division's chief restructuring officer The division also has been hurt by devaluation of local currencies DirecTV Latin America also said Tuesday that chairman Kevin N company, said the filing does not include any of its operating companies in Latin America and the Caribbean, which will continue regular operations directvla com , which said in January it was considering seeking bankruptcy protection for its DirecTV Latin America division because of continuing economic and political turmoil in the region S DirecTV Latin America, a U S "We appreciate the efforts by all involved DirecTV Latin American Holdings is a wholly owned subsidiary of Hughes Electronics Corp In afternoon trading on the New York Stock Exchange, Hughes shares were off 16 cents to $10 DirecTV Latin America said it negotiated with programmers, suppliers and business associates to resolve issues that hampered the company's finances, such as excessive fixed costs and a substantial debt burden, but couldn't reach a long-term solution "The action we have taken today is intended to strengthen DirecTV Latin America and allow us to continue to selectively add new subscribers on a profitable basis and further enhance our product offerings," said Michael A McGrath had retired and will be replaced by Eddy W , has agreed to provide DirecTV Latin America with $300 million in debtor-in-possession financing, subject to bankruptcy court approval â€â€?â€â€?â€â€? On the Net: DirecTV Latin America, http://www Hughes, a subsidiary of General Motors Corp Hartenstein, corporate senior executive vice president of Hughes It said Larry N Hughes spokesman Richard Dore said the filing had no effect on the parent company regarding a potential out-of-court restructuring," Feder said Chapman has been with Hughes Electronics since 1980 Bankruptcy Court in Wilmington, Del , http://www With 1 The Chapter 11 filing was made in U "Intellectual property is becoming today's new collectable," said Ted Owen, co-owner of the Cooper Owen auction house, where the "Rocks Legends" sale took place The artwork itself was sold last year " Copyrights of 18 artworks by Hendrix also sold for $75,270 But two other items did not draw high enough bids to sell Lennon signed it while leaving a New York recording studio shortly before he was shot and killed outside his Manhattan apartment building in 1980 The song first appeared on Hendrix's 1968 album "Electric Ladyland What is believed to be the last autograph by Lennon, the late former Beatle, failed to reach its minimum price of $150,000 The first studio recording made by a 17-year-old Prince at the Cookhouse Studios in Minneapolis in 1975 also did not sell, failing to reach its minimum bid of $634,000 The copyright to the recording was included London Auction Sells Hendrix Memorabilia Jun 17, 7:05 AM EST An auction of rock 'n' roll memorabilia sold an original Jimi Hendrix studio recording and some copyrights to his artwork Wednesday, but bidders found prices for John Lennon's last known autograph or Prince's first studio recording too high A first-generation recording of Hendrix's "Burning of the Midnight Lamp" in its original box sold for $36,500 |
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