DIRECTV 2002 Annual Report Download - page 9

Download and view the complete annual report

Please find page 9 of the 2002 DIRECTV annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

In connection with the proposed transactions, General Motors
Corporation (“GM”), Hughes Electronics Corporation (“Hughes”) and
The News Corporation Limited (“News”) intend to file relevant materi-
als with the Securities and Exchange Commission (“SEC”), including
one or more registration statement(s) that contain a prospectus and
proxy/consent solicitation statement. Because those documents will con-
tain important information, holders of GM $1-2/3 common stock and
GM Class H common stock are urged to read them, if and when they
become available. When filed with the SEC, they will be available for
free (along with any other documents and reports filed by GM, Hughes
or News with the SEC) at the SEC’s website, www.sec.gov, and GM
stockholders will receive information at an appropriate time on how to
obtain transaction-related documents for free from GM. Such docu-
ments are not currently available.
GM and its directors and executive officers and Hughes and certain of
its executive officers may be deemed to be participants in the solicitation
of proxies or consents from the holders of GM $1-2/3 common stock
and GM Class H common stock in connection with the proposed
transactions. Information regarding the participants and their interest in
the solicitation was filed pursuant to Rule 425 with the SEC by each of
GM and Hughes on April 10, 2003. Investors may obtain additional
information regarding the interests of such participants by reading the
prospectus and proxy/consent solicitation statement if and when it
becomes available.
This communication shall not constitute an offer to sell or the solicitation
of an offer to buy any securities, nor shall there be any sale of securities
in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such jurisdiction. No offering of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
Materials included in this document contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that could cause actual results to be
materially different from historical results or from any future results
expressed or implied by such forward-looking statements. The factors
that could cause actual results of GM, Hughes and News to differ
materially, many of which are beyond the control of GM, Hughes or
News include, but are not limited to, the following: (1) operating costs,
customer loss and business disruption, including, without limitation, diffi-
culties in maintaining relationships with employees, customers, clients or
suppliers, may be greater than expected following the transaction; (2)
the regulatory approvals required for the transaction may not be obtained
on the terms expected or on the anticipated schedule; (3) the effects of
legislative and regulatory changes; (4) an inability to retain necessary
authorizations from the FCC; (5) an increase in competition from cable
as a result of digital cable or otherwise, direct broadcast satellite, other
satellite system operators, and other providers of subscription television
services; (6) the introduction of new technologies and competitors into
the subscription television business; (7) changes in labor, programming,
equipment and capital costs; (8) future acquisitions, strategic partner-
ships and divestitures; (9) general business and economic conditions;
and (10) other risks described from time to time in periodic reports filed
by GM, Hughes or News with the SEC. You are urged to consider
statements that include the words “may,” “will,” “would,” “could,”
“should,” “believes,” “estimates,” “projects,” “potential,” “expects,”
“plans,” “anticipates,” “intends,” “continues,” “forecast,” “designed,”
“goal,” or the negative of those words or other comparable words to be
uncertain and forward-looking. This cautionary statement applies to all
forward-looking statements included in this document.
7
Note: The following notice is included to meet certain legal requirements.