BIZ WATCH Jun 9, 1997


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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