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DirecTV-Pegasus-NRTC Settlement Approved By Bankruptcy Court
Herndon VA (SPX) Aug 27, 2004 The National Rural Telecommunications Cooperative (NRTC) announced Thursday that its final settlement of legal disputes Pegasus Satellite Television had brought against NRTC has been approved by the US Bankruptcy Court. The Court approved a dismissal with prejudice of all claims Pegasus brought against NRTC and DirecTV and included a general release to NRTC. This is the last step in finalizing the agreement between NRTC and DirecTV that was announced June 1 and settles all litigation among the parties. "NRTC is pleased with the Court's decision," said Bob Phillips, President and CEO of NRTC. "NRTC and its members can now focus on delivering programming from the leading satellite television service and increasing the value of the service to subscribers with innovations such as DirecTV local-into-local service, digital video recording, and high-definition programming." "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," continued Phillips. "And now, with the June 1 agreement, all NRTC members can enter the business and provide DirecTV services in their communities and beyond," Phillips said. Today's settlement approval allows DirecTV to proceed with its plan to acquire all of the DBS assets of Pegasus and eliminates the litigation liability NRTC had faced pertaining to the June 1 deal. "With these issues resolved, NRTC looks forward to delivering DirecTV satellite services and WildBlue satellite broadband Internet access bundled on one dish," Phillips said. NRTC and its members will begin offering WildBlue broadband Internet service in rural areas early next year. Community Email This Article Comment On This Article Related Links NRTC DirecTV SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Stratos Steps Closer To Xantic Acquisition
Bethesda MD (SPX) Jan 5, 2006Stratos Global recently announced it had taken a step closer toward the completion of the acquisition of Xantic, having received positive advice from the Works' Council in the Netherlands, and executed a definitive agreement to purchase Xantic from KPN and Telstra Corporation. |
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