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Registration No. 333-20357
Prospectus Supplement filed pursuant to Rule 424(b)(3)
PEGASUS COMMUNICATIONS CORPORATION
Supplement No. 1
dated February 27, 1997
to
Prospectus for 193,600 Shares of Class A Common Stock
dated February 5, 1997
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The following information supplements the disclosure found on pages 5-6 and 49
of the Prospectus described above:
On February 14, 1997, Pegasus Communications Corporation (the
"Company") acquired the exclusive DIRECTV distribution rights for certain rural
portions of Mississippi and related assets, including receivables (the
"Mississippi DBS Acquisition") from ClearVision, Inc. ("ClearVision") in
exchange for approximately $15.0 million in cash, subject to possible
adjustment.
The Mississippi DBS Acquisition consists of properties, rights
and other assets used by ClearVision in the DIRECTV distribution business in
eight counties of Mississippi. The exclusive territory includes approximately
102,000 television households. As of February 14, 1997, there were approximately
6,700 DIRECTV subscribers in the exclusive area. As a result of the acquisition,
the Company's exclusive DIRECTV service territory includes approximately
1,268,000 television households and 108,000 business locations.
