Media Industry
Industry: Email Alert RSS FeedTCI takes stake in LodgeNet; will invest $40 million in DTH service to apartments.(TCI Satellite Entertainment Inc.; direct-to-home satellite television services)(Brief Article)
Broadcasting & Cable, October, 1996 by McConville, Jim
Will invest $40 million in DTH service to apartments Tele-Communications Inc. will invest approximately $40 million in hotel telecommunications company LodgeNet Entertainment in a joint venture to provide direct-to-home service to apartment buildings. TCI Satellite Entertainment Inc., TCI's direct broadcast satellite division, will pay $5.4 million in cash and provide an estimated $34.6 million in financing for LodgeNet.
In exchange for its cash, TCI gets 4.99% ownership of LodgeNet's ResNet Communications Inc., a division set up this year to install and operate private cable TV systems in apartment complexes. TCI also will advance ResNet $34.6 million during the next five years toward the purchase of Ku-band satellite receiver equipment. In...
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