The DIRECTV Group will pay $875 million in cash for the primary direct broadcast satellite assets of Pegasus Satellite Television, including rights to all DIRECTV subscribers activated through Pegasus. Pegasus provides DIRECTV programming to rural areas in 41 states nationwide. DIRECTV expects to complete the migration of Pegasus customers to DIRECTV within 30 to 45 days thereafter. Pegasus had approximately 1.08 million customers as of June 1, 2004. http://www.directv.com
- Pegasus filed a voluntary Chapter 11 bankruptcy petition in June 2004.
