Murdoch hopes for DirecTV merger approval

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Rupert Murdoch, News Corporation chairman and CEO said that he is hoping to receive approval for its DirecTV acquisition by the end of the year, according to the Australian press.

"Pending regulatory approvals for the deal, which we hope to secure by the end of the calendar year, our plan to offer enhanced interactive services, technological innovations and improved marketing and customer service will provide both superior service for American consumers and accelerated growth for shareholders," he wrote in the group's annual report.

Murdoch said that after enjoying record earnings in 2002-03, and with two major agreements forged during the year Ð including the DirecTV deal Ð News Corp was in an "excellent position, strategically as well as operationally, to build on our success going forward".