Sky Brasil and DIRECTV Brasil Finalize Merger

EL SEGUNDO, August 25: The merger of Sky Brasil and DIRECTV
Brasil is now complete, with the DIRECTV Group owning 74 percent of the
combined DTH platform and Globo Comuniçacão e Participações holding 26 percent.

The DIRECTV Group will control day-to-day management of Sky
Brasil. Globo will have minority governance rights, and will continue in its
role as the lead supplier of Brazilian programming to the platform.

Together, DIRECTV Brasil and Sky Brasil have approximately
1.3 million subscribers, making up one third of all pay-television subscribers
in Brazil. Following the merger, DIRECTV Brasil customers will migrate to the
Sky Brasil platform.

This merger completes a series of separate transactions
originally agreed upon in October 2004 with News Corporation, Globo, Grupo
Televisa and Liberty Media International, to combine DIRECTV Latin America and
Sky Latin America. The DIRECTV Group and its affiliate Sky Mexico (in which the
DIRECTV Group has a 41 percent interest) now serve approximately 4 million
subscribers in Latin America.

Bruce Churchill, the president of DIRECTV Latin America,
noted, "Now we can fully focus our efforts on moving forward, growing the
business and providing the 4 million DIRECTV and Sky subscribers in the region
with the best television experience possible."