Senior Hughes officials are in discussions with News Corp about regional collaboration or a possible merger with Murdoch's various satellite TV interests in the region.
Any Latin American deal could open the way for eventual talks on bringing together the two operations in other regions.
DirecTV's merger with US satellite broadcaster EchoStar was last week rejected by the Federal Communications Commission, while its Latin American satellite TV operation has been hit by financial instability in the region.
Hughes, which is 30% owned by General Motors, warned yesterday that earnings before tax, depreciation and amortisation would be $750m (£480m) in the current year, at the bottom end of market expectations.
Total revenues in the third quarter rose to $2.21bn from $2.1bn and net losses fell to $13.6m from $227m, a result of higher earnings in the US.
News Corporation was edged out by EchoStar in the battle for control of DirecTV last year, but is expected to renew interest in the satellite broadcaster now that US regulators have rejected its merger with EchoStar.
Hughes' president and chief executive Jack Shaw said the company was working with the FCC and Justice Department to come to a compromise that would enable the merger to go ahead.
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