Orbitz Strikes Airline Deal, Netflix and CBS in Talks, DISH Network Reorganizes TerreStar
Orbitz (NYSE:OWW): Yesterday, Orbitz Worldwide announced that it has reached a multi-year agreement by which United Continental Holdings (NYSE:UAL) will sell United and Continental flights on the Orbitz.com, CheapTickets.com and Orbitz for Business online travel sites. The agreement will give Orbitz.com, CheapTickets.com and OrbitzforBusiness.com customers access to all United and Continental fares, schedules and inventory. The companies will also work together on innovative merchandising and promotional programs designed to maximize exposure for products, services and revenue sources.
Netflix (NASDAQ:NFLX): CBS CEO Les Moonves said his company may end up producing an original show for Netflix (NASDAQ:NFLX), though offered no further details, reported AllThingsD, citing his comments on the company’s earnings call. Also, Netflix’s CEO Reed Hastings suggested the company’s U.S. subscriber base, which stands around 24.4M members, could grow over time to 60M-90M, reported electronista, citing a presentation originally given in November.
DISH Network (NASDAQ:DISH): DISH Network issued the following statement regarding final bankruptcy court approval of TerreStar Networks’ reorganization plan: “DISH Network is pleased to announce that a U.S. bankruptcy court today confirmed TerreStar’s reorganization plan to emerge from bankruptcy. The U.S. bankruptcy courts previously authorized TerreStar and DBSD to sell their spectrum licenses to DISH during the middle of 2011. “DISH is prepared to close both transactions upon receipt of Federal Communications Commission approval of the license transfers and associated waiver requests. With these approvals, DISH would immediately begin the design and construction planning for the nation’s first 100 percent LTE network. The requested waivers are necessary, among other things, to remove an outdated requirement for every handset to have the capability to establish a communications link to a satellite. The waiver of this requirement will allow DISH to provide more meaningful competition and greater choice for wireless consumers.”
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