C-Cube Message Board - Msg: 2916603

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Technology Stocks : C-Cube

CUBE 36.02

-1.6%

Nov 17 3:59 PM EST

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To: Stoctrash who wrote (26381)	12/9/1997 12:09:00 PM
From: Stoctrash	Read Replies (2) of 50808

DBS News: AT&T bails on DirecTV AT&T and DirecTV, Inc. announced that they have ended their marketing agreement to distribute the DirecTV direct broadcast satellite television service and DSS equipment through AT&T. AT&T and DirecTV entered into their original marketing agreement on March 25, 1996, to enable AT&T to provide its customers with special incentives on DSS equipment purchases. Under the agreement, AT&T invested $137.5 million for a 2.5 percent equity stake in DirecTV and options to purchase up to an additional 27.5 percent equity stake. With the termination of the agreement, AT&T is selling back its 2.5 percent equity stake for $161.8 million. The remaining equity options and exclusivity provisions of the original agreement have been cancelled. The new arrangement between the two companies will provide all DirecTV customers who are or become AT&T long distance customers with one free, specially designated pay-per-view event each quarter in 1998. ÿ

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