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To: Stoctrash who wrote (48216)	1/11/2000 3:27:00 PM
From: BillyG	Read Replies (1) \| Respond to of 50808

Pegasus To Buy Golden Star For About $1B techweb.com (01/11/00, 12:33 p.m. ET) By Reuters BALA CYNWYD, PA. -- Pegasus Communications, a provider of direct broadcast satellite television, said Tuesday it would acquire privately held Golden Sky Holdings for about $1 billion in stock and debt. The combined operations of Bala Cynwyd, Pa.-based Pegasus and Golden Sky will serve in excess of 1.1 million subscribers in 41 states and reach approximately 7.2 million rural households, making Pegasus the third largest provider of direct broadcast satellite and the eighth largest multichannel provider in the United States, including satellite and cable. Pegasus, which focuses on providing service in rural areas, will issue 6.5 million shares of its Class A common stock, currently valued at $632 million based on Monday's closing share price of $97.25, to Kansas City, Mo.-based Golden Sky's shareholders. It will also assume Golden Sky's net debt and other liabilities, which were approximately $373 million as of Sept. 30, 1999. The transaction was approved by the boards of directors of both companies, Pegasus said. Pending shareholder and certain other approvals, the transaction is expected to close during the second quarter. In a separate deal, Pegasus also plans to sell its Puerto Rico cable system to Centennial de Puerto Rico, a unit of Centennial Cellular, for $170 million in cash.