DTV » Topics » OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This excerpt taken from the DTV 10-K filed Mar 1, 2005.

OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

 

This Annual Report on Form 10-K may contain certain statements that we believe are, or may be considered to be, “forward-looking statements” within the meaning of various provisions of the Securities Act of 1933 and of the Securities Exchange Act of 1934. These forward-looking statements generally can be identified by use of statements that include phrases such as we “believe,” “expect,” “estimate,” “anticipate,” “intend,” “plan,” “foresee,” “project” or other similar words or phrases. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. All of these forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or from those expressed or implied by the relevant forward-looking statement. Risk factors which could cause actual performance and future actions to differ materially from forward-looking statements made herein include, among others, the following:

 

    we may not achieve or sustain profitability;

 

    our principal stockholder has significant influence over our management and actions requiring stockholder approval and its interests may differ from ours;

 

    potential indemnification liabilities to General Motors Corporation, or GM, could materially adversely affect us;

 

    our subsidiaries compete with other multi-channel video programming distributors some of whom have greater resources than us and increasing levels of competition could materially adversely affect our ability to grow and increase earnings;

 

    DIRECTV U.S. depends on the Communications Act for access to cable-affiliated programming and changes impacting that access could materially adversely affect us;

 

    regulatory carriage requirements may negatively affect DIRECTV U.S.’ ability to deliver local broadcast stations, as well as other aspects of its business;

 

    loss of Federal Communications Commission, or FCC, licenses and other regulatory approvals critical to our business could materially adversely affect us;

 

    our subsidiaries depend on others to produce programming and if the costs of such programming increase more than anticipated, it could materially adversely affect our financial performance;

 

    higher than anticipated subscriber acquisition costs could materially adversely affect our financial performance;

 

    higher than anticipated subscriber churn or subscriber upgrade or retention costs could materially adversely affect our financial performance;

 

    satellite programming signals have been stolen and may be stolen in the future, which could result in lost revenues and would cause us to incur incremental operating costs;

 

    construction or launch delays on satellites could materially adversely affect our revenues and earnings;

 

    our satellites are subject to significant launch and operational risks which could materially adversely impact our ability to provide our service;

 

    if the cost of commercial insurance coverage on our satellites is too high, we may forego insurance coverage and the loss of a satellite that is not insured could materially adversely affect our earnings;

 

    to remain competitive, we must keep pace with technological developments and our ability to do so is uncertain;


THE DIRECTV GROUP, INC.

 

    failure to protect necessary intellectual property we own, dependence on third party intellectual property or inadvertent infringement of patents and proprietary rights of others could materially adversely affect our ability to provide service or result in significant liability;

 

    out international operations are subject to various additional risks associated with doing business internationally;

 

    weaknesses in the U.S. and world economy may harm our business;

 

    future acquisitions, strategic partnerships and divestitures may involve additional uncertainties;

 

    we are party to various lawsuits, which are subject to uncertainties and for which the outcome cannot be predicted with assurance; and

 

    we may face other risks described from time to time in periodic reports filed by us with the Securities and Exchange Commission, or SEC.

 

We urge you to consider these factors carefully in evaluating forward-looking statements. The forward-looking statements included in this Annual Report are made only as of the date of this Annual Report and we undertake no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

 

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THE DIRECTV GROUP, INC.

 

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