Wednesday, April 21, 2004

KKR to Acquire PanAmSat for $4.3B

El Segundo-based DirecTV Group has agreed to sell its stake in PanAmSat (www.panamsat.com) for $4.3B to Kohlberg Kravis Roberts & Co.. DirecTV Group was formerly Hughes Electronics, and has been slowly focusing in on its consumer DirecTV satellite TV business. PanAmSat provides global video and data broadcasting services via its satellites, and provides a fleet of satellite and satellite based services, along with satellite procurement and launch support.

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