Move over Hughes Electronics and EchoStar. There's another satellite company making a meteoric rise on Wall Street. American Depositary Receipts (ADRs) for British Sky Broadcasting hit a 52-week high during trading at the New York Stock Exchange Tuesday, reaching $128.88. However, BSY shares closed down slightly when compared to the previous day of trading, ending at $125. The new high caps a strong run for the U.S.-traded ADRs. Last Wednesday, on Jan. 12, BSkyB was at $107.25 on the New York Stock Exchange. On Dec. 27, BSkyB was trading at $90. Three months ago, BSkyB's ADRs were hovering above $60. Strong growth for BSkyB's satellite-delivered digital service, which has around 2 million subscribers throughout the British Isles, has helped push up ADR prices on this side of the pond. BSkyB also has made some deals with the help of News Corp., which owns 40 percent of the satellite broadcaster. Last month, BSkyB agreed to pay about $1.5 billion for a 24 percent stake of German pay-TV provider Kirch Group. News Corp. also has a stake in an Italian pay-TV business. The deals will help BSkyB expand into continental Europe.

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Proton Ready To Launch Sirius

Resumption of flights for Russia's Proton rocket next month will allow for a spring-time launch of the first U.S. satellite dedicated to digital audio radio services. Sources said this week that a satellite launch could take place in early April for Sirius Satellite Radio. The company plans to deliver digital audio services to cars. The first Proton launch is scheduled for Feb. 12. That mission will carry satellites for Asia Cellular Satellite. Partners for that cellular phone business include Lockheed Martin Global Telecommunications and Pasifik Satelit Nusantara of Indonesia. Lockheed Martin assists with the Proton launch venture through its International Launch Services unit. Recently, Russian investigators determined the cause of a previous rocket crash. A launch mishap in October forced Kazakhstan, where Russia's Baikonur space center is located, to ban Proton launches.

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AT&T Fourth Quarter Earnings Down

As expected, AT&T, involved in everything from long-distance to cable and broadband, reported that fourth quarter earnings fell from previous results. AT&T reported that fourth quarter 1999 earnings from continuing operations were $1.153 billion, compared to $1.988 billion for the fourth quarter of 1998. The decrease was attributed to the TCI acquisition and a net restructuring charge. Revenues increased 20.7 percent to $16.334 billion, compared to the $13.528 billion reported for the same period in 1998. AT&T Chairman C. Michael Armstrong said that this year the company will "continue to be focused on meeting our financial commitments, scaling our broadband and wireless operations, and accelerating growth throughout our business." AT&T has been eyeing reductions of $2 billion or more, slashing benefits for managers and rumored to be cutting as much as 25 percent of its executive workforce. The company also initiated a hiring freeze in August.

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DISH Debuts Showtime HDTV

EchoStar's DISH Network is launching an HDTV feed of Showtime today, using its satellite at 61.5 degrees to deliver the high-quality feed. The HDTV signal debuts with an airing of the Showtime exclusive "The Truman Show." In addition to the crisp video, the HDTV signal comes with Dolby 5.1 audio. The feed comes in the 1080i widescreen format. DISH Network offers a modulator for the EchoStar 5000 set-top box that can get HDTV signals. This spring, EchoStar will debut a new receiver - DISH HD - that will include an integrated HD tuner/decoder. The Showtime HDTV offering will become available to customers with the Showtime Unlimited package, an offering that delivers 10 channels from the premium programmer for $10.99 a month. Subscribers will need an extra dish to get the signal, however, since it will be broadcast from 61.5 degrees.

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COMPETITIVE WATCH: Forecasting Cable