Cablevision Systems Corp. announced that its Rainbow DBS Co. LLC will sell its direct broadcast satellite (DBS) and certain other related assets to a subsidiary of EchoStar Communications Corp. for $200 million. The transaction is subject to certain regulatory approvals.
Under the terms of the agreement, EchoStar will acquire the Rainbow 1 satellite, which operates from 61.5 degrees West, along with Federal Communications Commission-issued licenses to construct, launch and operate DBS services over 11 frequency channels at that orbital location. EchoStar also will acquire the contents of Rainbow’s ground facility in Black Hawk, S.D.
For a closer look into the deal, including the reaction from Wall Street, please see the Jan. 24 issue of Satellite News. For more information on subscribing to Access Intelligence’s satellite industry news and information products, visit us at https://www.satellitetoday.com.
