EchoStar closed on $1.5 billion equity investment deal with Viven...
EchoStar closed on $1.5 billion equity investment deal with Vivendi, with proceeds to provide funds for pending EchoStar acquisition of Hughes Electronics. Meanwhile, FCC denied Pegasus petition to suspend pleading cycle of EchoStar and Hughes for licenses related to…
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proposed deal, saying it couldn’t be determined to what degree, if any, Vivendi investment raised vertical integration or programming discrimination concerns. Pegasus had argued that EchoStar deal with Vivendi undermined claim that it had no strategy to integrate with programmers. Commission said it didn’t find reason to delay administrative process merely on suspicion that applicant had failed to discuss or disclose issues. FCC said that if it determined that issues not presented were raised in application or in supplementary documents, it would request additional information and initiate new comment period.