GM Moves to Sell Hughes.General Motors Corp. gave its El Segundo-based Hughes Electronics Corp. unit the go-ahead to hold discussions with potential buyers to sell all or part of the company, whose most valuable asset is the DirecTV satellite service. Hughes, a publicly traded subsidiary of GM, has hired Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. and Goldman, Sachs & Co. as advisors, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. industry executives who have been contacted by the investment bankers. The companies, some of which will be talking to Noun 1. talking to - a lengthy rebuke; "a good lecture was my father's idea of discipline"; "the teacher gave him a talking to" lecture, speech rebuke, reprehension, reprimand, reproof, reproval - an act or expression of criticism and censure; "he had to Hughes over the next several weeks, include an array of telecommunications, entertainment and software firms, including News Corp., Microsoft Corp., Liberty Media Corp., Vivendi, Verizon, Walt Disney Co., Viacom and NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. . The developments come as GM faces increasing pressure from investors to sell off Hughes as a way of unlocking the value of the nation's largest satellite television service. |
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