Pegasus Communications Announces $170mm Sale Of Puerto Rican Assets

New York, NY

Pegasus Communications, Inc. announced today the close of the sale of its Puerto Rican assets to Centennial Communications Corporation for $170,000,000. The Pegasus assets being sold serve approximately 57,000 customers on the western portion of Puerto Rico, in and around the cities of Mayaguez, San German and Aguadilla. Waller Capital Corporation represented Pegasus Communications, Inc. in this transaction.

Pegasus Communications Corporation (www.pgtv.com) is one of the fastest growing media companies in the United States and serves approximately 1.3 million DBS customers in 41 states. Pegasus is the tenth largest multichannel video provider in the US and the only publicly traded cable, satellite TV or Internet services company exclusively focused on providing services to rural and underserved areas. Centennial Communications is a wireless communications company with operations in the United States and Puerto Rico serving over 625,000 subscribers This acquisition marks the company’s first purchase of a cable system.

For more information contact:
Garrett M. Baker
Vice President
Waller Capital Corporation
(212) 632-3600