Wall Street buzzed Tuesday with the prospect that AT&T could strike a long-suggested deal to acquire satellite TV firm EchoStar Communications before year's end. The possible deal has been a favorite topic of debate on the Street this year, and Citigroup said in a report Tuesday that chances are good that it will happen soon. The investment bank predicted that there is a 65% chance AT&T could pay $65 per share for EchoStar and that a deal could happen within 12 months. Reports on Tuesday also said AT&T has hired Goldman Sachs to advise on the possible acquisition. Deal buzz has been flying rampant since EchoStar recently said it is considering splitting into two stocks. The companies declined comment on the latest slew of deal talk. EchoStar shares closed up 4.2% at $51.08. During the past year, they have traded from $32.79-$52.15.
News Corp. communications maestro Gary Ginsberg has added global marketing responsibilities and has been appointed to the Office of the Chairman as the conglomerate plans a renewed global marketing push. Previously executive vp investor relations and corporate communications, Ginsberg will assume the new title of executive vp global marketing and corporate affairs. Ginsberg reports to chairman and CEO Rupert Murdoch as well as president and COO Peter Chernin and CFO David DeVoe.