Satellite Today has learned that Rainbow DBS, the satellite television unit of Cablevision Systems Corp. [CVC], will spend $740 million to purchase five satellites from Lockheed Martin [LMT]. The satellites will be used to expand capacity on Rainbow’s VOOM direct-to-home satellite broadcasting service. The company reportedly has enough cash to cover the first year of the contract, but it has not announced how it will finance the remainder of the contract.
Lockheed Martin Scores Gold With Rainbow
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