Jury sides with Loral in Rainbow suit
Telecommunications satellite firm Loral Space & Communications said Wednesday that it won a $51 million jury verdict in a contract dispute with Cablevision Systems' Rainbow DBS Holdings unit. The dispute stems from Rainbow DBS' sale of a satellite to EchoStar Communications in 2005, for which Loral says it should receive a payment under a previous asset deal. "We did not believe under the terms of the contract that we were obligated to make an immediate payment, however, the jury determined otherwise," Cablevision said. "We are considering our options and have no further comment at this time."