Virginia, Maryland restaurants serve growth
The nation’s restaurant industry is preparing for its first good year in several years, and the industry’s largest trade group says restaurants in the Washington area will see some of the strongest growth.
The D.C.-based National Restaurant Association forecasts 2011 sales in the South Atlantic region, which includes Washington, will grow 3.9 percent and, on a state-by-state basis, Virginia and Maryland rank among states that will see the strongest growth, at 4 percent and 3.9 percent respectively.
The restaurant industry in Virginia and Maryland is forecast to post combined 2011 revenue of $22.2 billion.
DISH Network pays $1b for DBSD North America
DISH Network Corp. will acquire DBSD North America Inc. in a deal worth $1 billion.
Reston-based DBSD, a hybrid satellite and terrestrial communications company, was formed in 2004 to develop a wireless communications system for areas underserved by cell-phone coverage, according to Bloomberg News. The company filed for bankruptcy in May 2009.
The acquisition price includes an $87.5 million loan, with the balance including interest accruing on DBSD’s existing debt.
The acquisition requires Federal Communications Commission approval and is contingent on DBSD’s emergence from bankruptcy protection, DISH Network said.
