SkyREPORT.COM News Headlines
News Update For 1/18/00
Hughes-PanAmSat Results Out This Week
Hughes Electronics, the parent of DirecTV, and its PanAmSat satellite services unit are scheduled to report fourth quarter and year-end 1999 results this week. According to Armand Musey, an analyst with Banc of America Securities, Hughes may report revenues of $2.2 billion and a loss of 39 cents per share for the fourth quarter. PanAmSat is expected to report fourth quarter revenues of $195.8 million and EPS at 19 cents per share. Hughes' results should come out Wednesday while PanAmSat may release results today. Highlights of the earnings release for PanAmSat should be its aggressive effort to expand its fleet to 24 satellites by the end of the year. Hughes' results should touch on its recent consolidation of businesses and record subscriber growth for DirecTV. During 1999, the DBS powerhouse acquired more than 1.6 million net new customers for its high-power service. Along with its PrimeStar business, DirecTV serves more than 8 million subscribers.
Pegasus Commences Private Offering
Pegasus Communications has commenced a rivate offering to qualified institutional buyers of $175 million in liquidation preference of its series C convertible preferred stock. The series C convertible preferred stock will be convertible at any time into shares of the company's class A common stock. Dividends on the series C convertible preferred stock will be payable in cash or, at Pegasus' option, in class A common stock. Pegasus said it will use the proceeds for working capital and general corporate purposes.
Companies Seek Direct Access To Intelsat
Nearly 70 companies have requested Level 3 direct access to the Intelsat system operated in the United States. Level 3 access would allow operators to avoid the mark-up for capacity charged by Comsat in its capacity as the U.S. signatory to Intelsat. AT&T, Loral, MCI WorldCom, MSNBC Cable, New Skies, PanAmSat and TBS are among the companies requesting Level 3. At last count, 69 companies asked for the special status. More than 90 of Intelsat's 143 member nations have some form of direct access in place for clients. Intelsat extensive satellite system carries voice, video, corporate/private networks and Internet to more than 200 countries and territories.
DISH Customers Get Free HBO Preview
DISH Network and HBO will offer a free weekend preview starting Friday called "Spotlight on HBO Originals." Subscribers who have an antenna pointed at 119 degrees can tune to channel 306 for three days of HBO programming. The preview will be hosted by sports broadcaster Jim Lampley and will be a 72-hour-showcase of HBO's originals. This will include the first episode of the popular series "The Sopranos," original movies such as "A Lesson Before Dying" and "RKO 281," comedy specials, family shows and sports. The preview runs from Friday, Jan. 21 through Sunday, Jan. 23. DISH customers who choose to subscribe to HBO The Works, the six-channel package, can do so for $10.99 a month.
TECH: Toshiba Supports Hughes Product
- Company Develops DirecPC Application - Toshiba America has developed and manufactured a system-level integration Riscasic for a DirecPC broadcast satellite application for Hughes Network Systems. The new technology integrates Toshiba's 32-bit TX39H Risc processor core, multiple peripheral controllers and interfaces, custom analog circuits, specialized memories for set-top box applications and special security features.
- Data Delivery Company Expands Products - Microspace Communications, a satellite-based data/audio network for business communication, has added a new line of video and data delivery products. The service, called File Forward, allows clients to send any type of files to multiple locations.
- NSN Network to Use Two GE Birds - NSN Network Services, a subsidiary of Clear Channel Communications, has signed a multi-year service contract for two additional satellite transponders. NSN will use GE-4 to distribute its internal audio networks and GE-8 for national distribution of its syndicated radio and data services.
- Integral Systems Wins New Skies Contract - Maryland-based Integral Systems will provide the primary and backup control facilities for New Skies Satellites, a company that was formed as part of the privatization of Intelsat. Integral Systems will also provide ground system hardware at three telemetry, tracking and control sites.