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Business

Dish, DirecTV shares rise on reported merger talk

Dish, DirecTV shares rise on reported merger talk

In this May 11, 2009 photo, a mini-van passes a DirecTV satellite dish in a residential area adjoining downtown Jackson, Miss. Tribune Broadcasting says there's been no settlement with DirecTV Inc. in their contract negotiations, which means DirecTV subscribers in 19 U.S. markets will lose access to certain programming, Saturday, March 31, 2012. (AP Photo/Rogelio V. Solis)

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LOS ANGELES (AP) - Shares of satellite TV companies Dish and DirecTV surged in midday trading Wednesday after a report said that Dish Chairman Charlie Ergen had contacted DirecTV CEO Mike White about merging.

Bloomberg News reported Ergen initiated the discussion in response to Comcast Corp.'s pending $45 billion acquisition of Time Warner Cable Inc., which was announced last month. The news service cited several unnamed sources.

Dish Network Corp. spokesman Bob Toevs declined to comment. DirecTV spokesman Robert Mercer said the company doesn't comment on speculation.

Dish shares rose $4.67, or 8 percent, to $63.09, while DirecTV shares rose $4.88, or 6.7 percent, to $78.05.

Dish is based in Englewood, Colo., and DirecTV is based in El Segundo, Calif.
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