SEC Inquiry into DirecTV Accounting Ends

Feb 9, 2005  •  Post A Comment

The Securities and Exchange Commission has concluded its analysis of how DirecTV Group accounted for a series of 2004 transactions. The SEC has decided not to take any action, the satellite company said in an SEC filing submitted Wednesday.

In January the SEC informed DirecTV that it was reviewing the company’s accounting treatment for the acquisition of satellite subscribers from Pegasus Communications and the National Rural Telecommunications Cooperative; a $1.47 billion write-down of three satellites; and the $250 million sale of a set-top box manufacturing business to electronics maker Thomson.

The query by the SEC could have resulted in adjustments to the company’s books and could have led to changes in DirecTV’s accounting.