New York, April 21, 2004 – Weil, Gotshal & Manges LLP, one of the world’s leading law firms, advised The DIRECTV Group, Inc. (NYSE: DTV), in its definitive transaction agreement with affiliates of Kohlberg Kravis Roberts & Co. (KKR) to acquire PanAmSat Corp. (Nasdaq: SPOT). DIRECTV is an 80.5 percent stakeholder in PanAmSat. The aggregate transaction value is approximately $4.3 billion.
The DIRECTV Group, Inc. formerly Hughes Electronics Corp., is a world-leading provider of digital multichannel television entertainment, broadband satellite networks and services, and global video and data broadcasting. PanAmSat Corporation is one of the world’s top three satellite operators. KKR is one of the world’s oldest and most experienced private equity firms specializing in management buyouts.
Weil, Gotshal & Manges LLP is an international law firm of more than 1,100 attorneys, including approximately 300 partners. Weil Gotshal is headquartered in New York, with offices in Austin, Boston, Brussels, Budapest, Dallas, Frankfurt, Houston, London, Miami, Munich, Paris, Prague, Silicon Valley, Singapore, Warsaw and Washington, D.C.
Weil, Gotshal & Manges LLP’s Team
Partners: Frederick S. Green, Michael E. Lubowitz and Warren T. Buhle (Corporate, New York); Marc L. Silberberg (Tax, New York)
Associates: John E. Quattrocchi (Corporate, Dallas); Marc E. Kenny (Corporate – Silicon Valley); Scott M. Sontag (Tax – New York); Heidi L. Fakler and Andrew J. Yoon (Corporate – New York)