Today in Philly Tech History January 22, 1999: DirecTV to buy assets of PrimeStar; Comcast exits satellite business

DirecTV announced on January 22, 1999 it would acquire the assets of Primestar, a rival satellite TV provider owned by a group of cable operators including Comcast and a GE satellite unit, for $1.82 billion. The deal would give DirecTV potential access to Primestar's 2.3 million customers, as well as its satellite assets. Primestar was reported to be running out of cash, hurt by older technology and a high churn rate among its customer base.



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