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Registration No. 333-23595
Prospectus Supplement filed pursuant to Rule 424(b)(3)
PEGASUS COMMUNICATIONS CORPORATION
Supplement No. 1
dated April 23, 1997
to
Prospectus for 366,464 Shares of Class A Common Stock
dated March 26, 1997
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Unless otherwise defined, all terms used herein but not otherwise
defined shall have the same meaning as in the March 26, 1997 Prospectus.
The following information supplements the disclosure found in the Prospectus:
Acquisitions of New DBS Territories
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On April 16, 1997, Pegasus announced pending acquisitions of DIRECTV
distribution rights and related assets from nine independent DIRECTV providers
and the completion of one such acquisition. The ten acquisitions involve in the
aggregate cash consideration of approximately $47.6 million and approximately
$700,000 in shares of Class A Common Stock. The ten independent providers
provide service to approximately 25,000 subscribers in 17 states in territories
that comprise in excess of 300,000 television households. Approximately 110,000
of these households are not presently passed by cable. These acquisitions will
increase Pegasus' exclusive DIRECTV territory to 1.7 million TV households
serving approximately 80,000 DBS subscribers in 24 states. Each of the pending
acquisitions is subject to the negotiation of a definitive agreement, if not
already entered into, and, if not already granted, the prior approval of the
NRTC and Hughes. There can be no assurance all or any of these pending
acquisitions will be completed.
