Pegasus Completes Reorganization

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Pegasus Communications Corp. said Monday that it has completed its
reorganization under its newly created holding company.

The company formerly called Pegasus Communications Corp. is now Pegasus
Satellite Communications Inc. The unit resells DirecTV Inc. direct-broadcast
satellite service.

Pegasus Broadband Communications will be responsible for the company's new
broadband-satellite Internet services to the television and PC. Pegasus
Broadband is a subsidiary of Pegasus Satellite.

The new holding company will be called Pegasus Communications Corp.

DBS insiders have recently speculated that Pegasus' DBS assets may be in play
if or when DirecTV parent company Hughes Electronics Corp. reaches a merger deal
with News Corp. or another party.

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