Cablevision, Lockheed in Deal for Satellites
From Dow Jones/Associated Press
Cablevision Systems Corp. said its Rainbow DBS satellite television unit would buy $740 million of satellites from defense contractor Lockheed Martin Corp.
Lockheed, based in Bethesda, Md., will build five satellites and provide related equipment, software and training, according to a filing by Cablevision with the Securities and Exchange Commission.
Shares of Bethpage, N.Y.-based Cablevision fell 46 cents to $21.72 on the NYSE. Lockheed’s shares rose 16 cents to $59.20, also on the NYSE.
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