blingbling
02-20-03, 02:12 PM
DOW JONES NEWSWIRES
By Ellen Sheng
Of DOW JONES NEWSWIRES
NEW YORK -- Shares of Pegasus Communications Corp. (PGTV) gained more than 11% for the second straight day amid enthusiasm regarding the company's discussions with Hughes Electronics' (GMH) DirecTV to resolve outstanding litigation and hopes that the talks could lead to DirecTV buying Pegasus.
Shares hit another 52-week high Thursday and have ascended significantly since last week when word came out that the two companies were talking with each other.
Pegasus, along with several National Rural Telecommunications Cooperative companies, have been in disputes with DirectTV regarding the renewal rights to broadcast in rural areas.
"An acquisition is certainly a possibility," said Tom Watts, analyst at SG Cowen, who believes DirecTV would benefit from an acquisition since owning Pegasus' rights would make DirecTV more attractive on the selling block.
more...but subscription required :( (http://online.wsj.com/article/0,,BT_CO_20030220_005754,00.html?mod=COMPANY)
I hope this goes through and D* buys Pegasus! Pegasus is the main reason I left D* to begin with and if they're out of the picture then hello SUNDAY TICKET!
By Ellen Sheng
Of DOW JONES NEWSWIRES
NEW YORK -- Shares of Pegasus Communications Corp. (PGTV) gained more than 11% for the second straight day amid enthusiasm regarding the company's discussions with Hughes Electronics' (GMH) DirecTV to resolve outstanding litigation and hopes that the talks could lead to DirecTV buying Pegasus.
Shares hit another 52-week high Thursday and have ascended significantly since last week when word came out that the two companies were talking with each other.
Pegasus, along with several National Rural Telecommunications Cooperative companies, have been in disputes with DirectTV regarding the renewal rights to broadcast in rural areas.
"An acquisition is certainly a possibility," said Tom Watts, analyst at SG Cowen, who believes DirecTV would benefit from an acquisition since owning Pegasus' rights would make DirecTV more attractive on the selling block.
more...but subscription required :( (http://online.wsj.com/article/0,,BT_CO_20030220_005754,00.html?mod=COMPANY)
I hope this goes through and D* buys Pegasus! Pegasus is the main reason I left D* to begin with and if they're out of the picture then hello SUNDAY TICKET!