Jump to content


Welcome to DBSTalk


Sign In 

Create Account
Welcome to DBSTalk. Our community covers all aspects of video delivery solutions including: Direct Broadcast Satellite (DBS), Cable Television, and Internet Protocol Television (IPTV). We also have forums to discuss popular television programs, home theater equipment, and internet streaming service providers. Members of our community include experts who can help you solve technical problems, industry professionals, company representatives, and novices who are here to learn.

Like most online communities you must register to view or post in our community. Sign-up is a free and simple process that requires minimal information. Be a part of our community by signing in or creating an account. The Digital Bit Stream starts here!
  • Reply to existing topics or start a discussion of your own
  • Subscribe to topics and forums and get email updates
  • Send private personal messages (PM) to other forum members
  • Customize your profile page and make new friends
 
Guest Message by DevFuse

Photo

Court OKs DirecTV/Pegasus/NRTC Settlement


  • This topic is locked This topic is locked
No replies to this topic

#1 OFFLINE   Chris Blount

Chris Blount

    Creator of DBSTalk

  • Administrators
  • 17,181 posts
Joined: Jun 22, 2001

Posted 27 August 2004 - 06:05 AM

The Maine bankruptcy court handling Pegasus Satellite's Chapter 11 proceeding approved a settlement between the company and DirecTV and the National Rural Telecommunications Cooperative, and dismissed all claims Pegasus brought against the two entities.

The approval is a final step in finalizing the agreement between NRTC and DirecTV that was announced June 1 and settles all litigation among the parties, NRTC said. The settlement approval also allows DirecTV to proceed with its plan to acquire the DBS assets of Pegasus and eliminates the litigation liability NRTC had faced pertaining to the June 1 deal, the cooperative said.

"Members who currently provide DirecTV service are now able to quantify the terrific value they have built in their businesses over the last decade, while still continuing to provide high-quality local service," said NRTC CEO Bob Phillips. "And now, with the June 1 agreement, all NRTC members can enter the business and provide DirecTV services in their communities and beyond."

DirecTV said in a statement that it's pleased with the court ruling and it expects to complete the acquisition of Pegasus DBS assets possibly today.

In June, NRTC and DirecTV agreed to end their DBS distribution agreement, and set Aug. 31 as the expiration date. Pegasus, which sold DirecTV in rural areas through its NRTC affiliates, fought the deal, and put its Pegasus Satellite subsidiary into Chapter 11 bankruptcy soon after the NRTC/DirecTV deal was announced.

Earlier this month, Pegasus agreed to sell its DBS business to DirecTV.

Philips also said in a statement that NRTC "looks forward" to offering DirecTV and WildBlue satellite broadband services bundled and delivered to one dish. NRTC and its members will begin offering WildBlue in rural areas early next year.

http://www.skyreport.com (Used with permission)

...Ads Help To Support This SIte...



Protected By... spam firewall...And...