Cable Technology Feature Article
March 15, 2010
DIRECTV Holdings Completes $3 Billion Financing Agreement
By Anil Sharma, TMCnet Contributor
DIRECTV Holdings LLC, an indirect subsidiary of DIRECTV, has completed $3 billion in debt financing.
Officials with DIRECTV said that this financing consists of $1.2 billion in 3.550 percent Senior Notes due 2015, $1.3 billion in 5.200 percent Senior Notes due 2020 and $0.5 billion in 6.350 percent Senior Notes due 2040.
Company officials said that DIRECTV Holdings has received net proceeds of approximately $2.98 billion from this financing and intends to use the net proceeds for general corporate purposes, which will include the repayment of all of the company’ s term loan C issued under its senior secured credit facility, and may include a distribution to its parent, DIRECTV, for its share repurchase plan and other corporate purposes.
Back in September DIRECTV had announced selecting ATEME, H.264 video compression solutions provider, to bring uncompromised quality content to its subscriber base via its on-demand service.
ATEME officials said that by switching to the company’ s Kyrion File Encoder solution, DIRECTV would be able to streamline its tapeless content production process, automating the encoding of its video content so that the whole process becomes seamless and putting DIRECTV in more control over how and when this content is delivered to its subscribers.
Moreover officials said that DIRECTV can also accelerate content delivery to customers for any type of assets, from full HD quality down to low resolution applications.
ATEME is a provider of video compression solutions. ATEME’ s technology supports mobile, SD and HD content, deployed across any platform.
ATEME provides broadcasters, telcos and content owners with compression quality and bandwidth efficiency thanks to in-house H.264 expertise.
In August ATEME announced that P&TLuxembourg, a postal and telecommunication provider in Luxembourg, is deploying ATEME’ s IPTV (News - Alert) headend, which includes HD MPEG-4 AVC encoding.
This solution will help P&T Luxembourg to launch HDTV linear broadcast television services in 2009.
Anil Sharma is a contributing editor for TMCnet. To read more of Anil’s articles, please visit his columnist page.
Edited by Marisa Torrieri