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A leading global provider of video, broadcasting and network distribution
and delivery services, Panamsat's in-orbit fleet, comprising 24
satellites, is capable of reaching over 98 per cent of the world's
population through cable television systems, broadcast affiliates,
direct-to-home operators, Internet service providers and telecommunications
companies.
Following the merger, the Company's shares will be now be delisted
from the Nasdaq and will no longer be publicly traded, says a company
release.
The Company's shareholders approved the transaction at its annual
meeting held on 13 August 2004.
Private equity firms to Affiliates of Kohlberg, Kravis Roberts
& co L P, The Carlyle Group and Providence Equity Partners,
Inc. are scheduled to acquire the DirectTV group’s equity stake
in PanAmSat on Friday, 20 August 2004.
PanAmSat supports the largest concentration of satellite-based
business networks in the U.S., as well as specialised communications
services in remote areas throughout the world. While, the DirectTV
group is a leading provider of digital multichannel television entertainment,
broadband satellite networks and services, and global video and
data broadcasting. The group is 34 per cent owned by Fox Entertainment
Group, which is approximately 82 percent owned by News Corporation
Ltd.
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