DirecTV Inc.'s on-again, off-again negotiation to purchase the assets of Pegasus Satellite Television Inc. is a done deal.
DirecTV agreed earlier this month to pay $938 million, $875 million of that in cash, for Pegasus, which has
franchises to resell DirecTV in more than 80% of rural markets.
The negotiation and sale survived years of litigation over Pegasus's right to continue to resell the service, as well as its filing for bankruptcy in June.
As part of the deal, Pegasus will continue to provide certain services until its subscribers have been converted to DirecTV. Pegasus is telling its customers that the switch will not increase their monthly bills, and in some cases may lower them.
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