DVB Consortium Moves To Bring Linear TV Into The Internet Age
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DVB Consortium Moves To Bring Linear TV Into The Internet Age
In February 2004, Hughes announced its intent to focus solely on its satellite television operations and divest its other interests, renaming itself The DirecTV Group, Inc. on March 16, 2004, and changing its ticker symbol from "HS" to "DTV".[35] In April of that year, it sold its controlling interest in PanAmSat to a private consortium led by Kohlberg Kravis Roberts for $3.53 billion.[36] On April 22, 2005, DirecTV spun off Hughes Network Systems into a separate entity and sold 50% of the new entity to SkyTerra, acquiring $157.4 million in the transaction.[37] In January 2006, DirecTV sold its remaining 50% share in Hughes Network Systems to SkyTerra for $100 million.[38] The sale effectively ended DirecTV's 20-year existence through Hughes Electronics as a technology conglomerate, leaving…