Hughes Electronics
Parent General Motors | | |
| Subsidiaries | ||
|---|---|---|
Hughes Electronics Corporation was formed in 1985 when
On June 5, 1985 General Motors was announced as the winner of a secretive five month, sealed-bid auction. Other bidders included Ford Motor Company and Boeing.[1] The purchase was completed on December 20, 1985, for an estimated $5.2 billion, with $2.7 billion in cash and the remainder in 50 million shares of GM Class H stock.[2]
On December 31, 1985, General Motors merged Hughes Aircraft with its Delco Electronics unit to form Hughes Electronics Corporation, an independent subsidiary. The group then consisted of: Delco Electronics Corporation and Hughes Aircraft Company.
In August of
into Hughes' portfolio.In 1994 Hughes Electronics introduced DirecTV, the world's first high-powered
agree to merge their fixed satellite services into a new publicly held company, also called PanAmSat with Hughes Electronics as majority shareholder.In 1995, Hughes Aircraft sold its Technology Products Division (automated wire and die bonder) to an investor group led by
In 1997 GM transferred Delco Electronics to its
In 2000, The Boeing Company purchased three units within Hughes Electronics Corp.: Hughes Space and Communications Co.,
In 2003 the remaining parts of Hughes Electronics (DirecTV, DirecTV Latin America, PanAmSat, Hughes Network Systems) were purchased by
Timeline
- General Motors for $5.2 billion. This was merged with GM's Delco Electronicsto form Hughes Electronics Corporation. The group then consisted of:
- Delco Electronics Corporation
- Hughes Aircraft Company
- 1987: Hughes Aircraft Company acquired M/A-COM Telecommunications, to form Hughes Network Systems.
- 1994: Hughes Electronics introduced DirecTV.
- 1995: Hughes Space and Communications Company became the world's biggest supplier of commercial satellites.
- 1995: Hughes Electronics acquired Carlyle Group.
- 1995: Hughes Aircraft acquired Edwin Link, inventor of the flight simulator.
- 1996: Hughes Electronics and PanAmSat agreed to merge their fixed satellite services into a new publicly held company, also called PanAmSat with Hughes Electronics as majority shareholder.
- Delphi Automotive Systems. Delphi became independent in 1999.
- 1997: The aerospace and defense operations of Hughes Electronics (Hughes Aircraft) merged with Hughes Research Laboratories.
- HRL Laboratories, LLCwhich was then co-owned by Boeing, GM and Raytheon.
- 2003: The remaining parts of Hughes Electronics: DirecTV, DirecTV Latin America, PanAmSat and News Corporation and renamed The DirecTV Group.
- 2003: News Corporation sold PanAmSat to Kohlberg Kravis Roberts & Co.(KKR) in August 2004.
- 2004: Director Martin Scorsese used the Hughes Aircraft stage in Playa Vista to film the motion-capture sequences in the film The Aviator.
- 2004: SkyTerra Communications, Inc. completed its purchase of 100% controlling interest in Hughes Network Systems from the DirecTV Group in January 2006.
References
- ^ Potts, Mark (1985-06-06). "GM to Buy Hughes Aircraft; Offer Provides Windfall for Medical Institute". Washington Post.
- ^ "G.M. Purchase Of Hughes". The New York Times. Reuters. 1985-12-23. Archived from the original on 2014-05-02. Retrieved 2014-04-30.
- ^ "Missile completion". Flight International. Reed Business Publishing. 1992-09-02.
- ^ "Hughes-Palomar History".
- ^ "Palomar Technologies Achieves Management Buy-out". photonics.com. Archived from the original on 29 April 2018. Retrieved 29 April 2018.
- ^ Chuter, Andy (1998-01-07). "Raytheon Completes Hughes Merger". Flight International. Reed Business Information Ltd. p. 15. Archived from the original on 2014-05-02. Retrieved 2014-04-30.
- ^ "Boeing: History -- Higher, Faster, Farther - Hughes Companies ... Joining the Boeing Family". Archived from the original on 2010-10-28. Retrieved 2010-06-02. Hughes Companies... Joining the Boeing Family