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Satellite

DirecTV May Take $1.6B Charge

10/25/2004 9:06 AM Eastern

DirecTV Group Inc. may take up to $1.6 billion in charges to write down the value of satellites it would use for broadcasting instead of high-speed-data services, Reuters reported.

The company announced last month that two Spaceway satellites originally earmarked for high-speed data would be used to expand its programming capacity, particularly in terms of HDTV, according to Reuters.

According to a filing with the U.S. Securities and Exchange Commission Friday, DirecTV expects to record a pretax charge of about $1.4 billion-$1.6 billion in the third quarter.

 

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