Steve Mehs
02-25-03, 04:22 AM
On Monday, Pegasus Communications, which sells DirecTV in rural areas, took aim at speculation that it may agree to an acquisition by the satellite TV company.
Late last week, Reuters suggested that a recent rise in Pegasus' stock may be tied to a pending acquisition, and it quoted a Pegasus employee on the speculation. Pegasus, which authorized a reverse stock split earlier this year, has seen its shares steadily rising in the past few weeks.
In a short statement, Pegasus said, "A recent news story attributed to a Pegasus employee a comment to the effect that settlement of our lawsuit against DirecTV could take any form, including settling the individual issues or a merger or acquisition. Our employee was incorrectly quoted. Pegasus does not and will not comment on settlement discussions with DirecTV."
DirecTV and Pegasus are in litigation over the sale of programming into rural areas. A federal mediator is facilitating talks between the companies. A trial date for the matter is scheduled for June 3.
From SkyReport (http://www.skyreport.com/skyreport/feb2003/022503.shtm#two) (Used with Permission)
Late last week, Reuters suggested that a recent rise in Pegasus' stock may be tied to a pending acquisition, and it quoted a Pegasus employee on the speculation. Pegasus, which authorized a reverse stock split earlier this year, has seen its shares steadily rising in the past few weeks.
In a short statement, Pegasus said, "A recent news story attributed to a Pegasus employee a comment to the effect that settlement of our lawsuit against DirecTV could take any form, including settling the individual issues or a merger or acquisition. Our employee was incorrectly quoted. Pegasus does not and will not comment on settlement discussions with DirecTV."
DirecTV and Pegasus are in litigation over the sale of programming into rural areas. A federal mediator is facilitating talks between the companies. A trial date for the matter is scheduled for June 3.
From SkyReport (http://www.skyreport.com/skyreport/feb2003/022503.shtm#two) (Used with Permission)