November 3, 2004 |
DirecTV Group Inc. reported a significantly larger third- quarter net loss after writing down the value of two satellites that will be switched to transmit TV signals rather than provide Internet access. The El Segundo-based company reported a net loss of $1.01 billion, or 73 cents a share, in the three months ended Sept. 30, compared with a loss of $23 million, or 2 cents, a year earlier. Revenue increased 20% to $2.86 billion from $2.38 billion in the same quarter last year.
August 3, 2004 |
DirecTV Group Inc. plans to buy the satellite television assets of Pegasus Communications Corp. and settle a legal squabble for $938 million, the companies said Monday. The companies have bickered in and out of court for the last five years over the length of Pegasus' resellers contract. The deal brings a resolution to years of feuding. It also lets News Corp.-controlled DirecTV quickly apply triage to Pegasus' under-performing rural markets.
July 30, 2004 |
NBC Universal signed its first major pay-TV distribution deal since completing the $14-billion merger this spring of the broadcast giant with the Hollywood studio, theme park and cable programming company. News Corp.'s DirecTV satellite unit has agreed to continue carrying USA Network and the Sci Fi channel, while also getting the rights to carry the Bravo channel and NBC's Summer Olympics programming in high-definition.
July 28, 2004 |
Grupo Televisa, the world's largest Spanish-language broadcaster, said Tuesday that it was seeking to acquire DirecTV Group Inc.'s subscribers in Mexico to become the country's only provider for satellite television service. "We would like to buy DirecTV's subscribers in Mexico but not the whole company," said Alfonso de Angoitia, Televisa's executive vice president, during a second-quarter conference call. "Hopefully, that will be during 2004, but I cannot comment on specific negotiations."
July 7, 2004 |
DirecTV Group Inc. and EchoStar Communications Corp., the nation's two biggest satellite-television services, said Tuesday that they received letters from the Securities and Exchange Commission asking for information on how they count subscribers. The letters to DirecTV and EchoStar are part of the commission's investigation into how companies count subscribers. The agency also contacted cable TV providers such as Comcast Corp. and phone companies including Verizon Communications Inc.
June 16, 2004 |
Pegasus Communications Corp. sued DirecTV Group Inc., the biggest U.S. satellite television provider, and a rural telecommunications organization, claiming they sought to destroy Pegasus by stealing its business. DirecTV and the National Rural Telecommunications Cooperative this month ended Pegasus' exclusive contract to resell service to 8.4 million U.S. households in 41 states, prompting Pegasus' satellite TV unit to file for bankruptcy protection.
June 9, 2004 |
TiVo Inc., the Silicon Valley darling famous for its time-shifting television service, saw its stock drop 14% on Tuesday after satellite television provider DirecTV Group Inc. said it had sold its 4% stake in the company. DirecTV has been a major source of TiVo subscribers, providing nearly 75% of its new customers in the last quarter, according to TiVo regulatory filings.
May 21, 2004 |
DirecTV Group Inc. was awarded $10.7 million in interest on top of the $51.5-million verdict it won last month against Pegasus Communications Corp. U.S. District Judge Lourdes Baird in Los Angeles awarded DirecTV the prejudgment interest for unpaid Pegasus invoices that a jury found totaled the $51.5 million. Pegasus markets the DirecTV satellite-television service in rural U.S. areas. El Segundo-based DirecTV had sought as much as $12.6 million in interest, while Bala Cynwyd, Pa.
May 19, 2004 |
The U.S. government believes Cubans should see more of America on television, and for years, Cubans have been happily complying -- cobbling together clandestine satellite systems to pick up everything from the World Series to soap operas. No longer. Most of these systems have been silenced -- not by Fidel Castro but by an American company's war on TV piracy.
May 14, 2004 |
A federal judge Thursday tossed out a dispute between Pegasus Communications Corp. and DirecTV Group Inc. over a contract for marketing satellite television service in rural areas, ending more than four years of litigation. U.S. District Judge Lourdes G. Baird in Los Angeles, in a summary judgment, dismissed Pegasus' claims and DirecTV's counterclaims ahead of trial. Shares of Bala Cynwyd, Pa.-based Pegasus rose $2.54 to $19.83 on Nasdaq.