BIZ WATCH Jun 9, 1997

RUPERT'S CABLE COMPROMISE

In the satellite business, just as in real estate, location is everything. So when Rupert Murdoch ended up with satellite slots at 110[degrees] west longitude, he knew he had the equivalent of a condo in Malibu. The position offers panoramic views of the U.S.

But finding the right thing to do with the real estate was surprisingly difficult. Murdoch's ambition--to build a global carpet of satellite dishes--requires a partner to deliver programming to American homes. In February he announced plans to buy a 50% stake in EchoStar, a start-up that owns birds at 119[degrees]. That deal cratered earlier...

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