Fox Entertainment Moves All U.S. Programming To PanAmSat
Wilton, Conn.-based PanAmSat [Nasdaq: SPOT] will gain an infusion of revenue from a new multi-year, multi-satellite transponder agreement with Fox Entertainment Group, which recently gained an ownership stake in PanAmSat’s parent Hughes Electronics [NYSE: HS]. Under the terms of the agreement, Fox will consolidate its entire suite of U.S. programming onto PanAmSat’s global fleet for 15 years and move a significant portion of its international traffic onto the fleet for the next decade.
The deal is one of the biggest for PanAmSat during its 20-year history and immediately makes Fox one of the company’s largest media customers and one of its top five global customers, PanAmSat officials said.