Here is an interesting news release from a company similar to MDU. Notice the price paid for the satellite acquisition, thats over $2000 per subscriber!
Pegasus Communications
Corporation Announces Five DBS
Acquisitions; Completes Acquisition
of Contiguous Puerto Rico Cable System
Pro Forma DBS Operations Serve 491,657 DIRECTV Customers Pro Forma
Puerto Rico Cable Operations Serve 50,000 Customers
RADNOR, Pa., March 29 /PRNewswire/ -- Pegasus Communications Corporation (Nasdaq: PGTV - news) announced today pending acquisitions of five DIRECTV® (''DIRECTV'') rural affiliates in the Midwest and Southern portion of the country. Collectively, the pending acquisitions serve approximately 15,300 direct broadcast satellite (''DBS'') subscribers comprising nearly 81,000 households, of which more than 39,000 are not currently passed by cable. The Company will acquire the properties for approximately $28.2 million in cash and $2.6 million in notes.
Marshall Pagon, Chairman and Chief Executive Officer of Pegasus, commented, ''The DIRECTV rural affiliate acquisitions announced today enhance our clusters in the Central Plains and Southern regions and bring us to a total of 81 rural affiliate acquisitions since going public in October 1996. We expect to continue our aggressive consolidation of independent providers during 1999 and further solidify Pegasus' position as the nation's leading independent provider of DIRECTV.''
Pegasus also announced that it has completed the previously announced acquisition of the cable television system serving Aguadilla, Puerto Rico for $42.0 million in cash. Pursuant to the acquisition, Pegasus now serves more than 50,000 customers in the western and southwestern corridor of the island. The combined system covers a franchise area totaling in excess of 200,000 homes, representing 20% of the island. ''The consolidation of the Aguadilla system allows us to achieve greater scale to accelerate upgrades to our system's infrastructure, such as our planned deployment of high-speed Internet access.'' said Ricardo Ferrer, System Manager.
Pegasus Communications Corporation is one of the fastest growing media companies in the United States. In DBS, Pegasus Satellite Television is the largest independent provider of DIRECTV serving 491,657 DBS subscribers in 36 states, after giving effect to pending acquisitions. In TV, Pegasus Broadcast Television operates and or programs ten TV stations affiliated with FOX, UPN and the WB, giving effect to the pending launch of one TV station. Pegasus also operates a cable system in Puerto Rico.
This press release contains information about pending transactions, and there can be no assurance that these transactions will be completed. |
