<html>
<head><title>
Prepared and filed by St Ives Financial
</title>
</head>
<body bgcolor="#FFFFFF">
<page>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td height="4" valign="bottom" bgcolor="#000000"></td>
  </tr>
  <tr>
    <td height="2" valign="top"></td>
  </tr>
    <tr>
    <td height="1" valign="top" bgcolor="#000000"></td>
  </tr>
</table>
<p align="center"><font size="2" face="serif"><b>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
WASHINGTON, D.C.  20549</b></font></p>
<p align="center"><font size="2" face="serif"><b>FORM 8-K</b></font></p>
<p align="center"><font size="2" face="serif"><b>CURRENT REPORT</b></font></p>
<p align="center"><font size="2" face="serif"><b>Pursuant to Section 13 or 15(d) of the<br>
Securities Exchange Act of 1934</b></font></p>
<p align="center"><font size="2" face="serif">Date of Report (Date of Earliest Event Reported): December 11, 2006</font></p>
<p align="center"><font size="2" face="serif">_________________</font></p>
<table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top"> <td align="center"><font size="1" face="serif">&nbsp;</font><font size="2" face="serif"><b>PEGASUS
        COMMMUNICATIONS CORPORATION</b></font></td>
</tr>
<tr valign="top">
<td align="center"><font face="serif" size="2">(Exact Name of Registrant as Specified
    in Charter)&nbsp;</font></td>
</tr>
</table>
<p align="center">&nbsp;</p>
<table width="100%" cellspacing="0" cellpadding="0" align="center" border="0">
<tr align="center" valign="top">
<td width="33%"><font size="2" face="serif"><b>Delaware</b></font></td>
<td width="33%"><font size="2" face="serif"><b>0-32383</b></font></td>
<td width="33%"><font size="2" face="serif"><b>23-3070336</b></font></td>
</tr>
<tr align="center" valign="top">
<td><font size="2" face="serif">(State or Other Jurisdiction<br>of Incorporation)</font></td>
<td><font size="2" face="serif">(Commission File Number)</font></td>
<td><font size="2" face="serif">(IRS Employer<br>Identification No.)</font></td>
</tr>
</table>
<br><br>
<table width="100%" cellspacing="0" cellpadding="0" align="center" border="0">
<tr align="center" valign="bottom">
<td width="66%"><font size="2" face="serif"><b>c/o Pegasus Communications Management Company</b></font><font size="2"><br><font face="serif"><b>225 City Line Avenue</b></font><br><font face="serif"><b>Bala Cynwyd, Pennsylvania</b></font></font></td>
<td><font size="2" face="serif"><b>19004</b></font></td>
</tr>
<tr align="center" valign="top">
<td><font size="2" face="serif">(Address of Principal Executive Offices)</font></td>
<td><font size="2" face="serif">(Zip Code)</font></td>
</tr>
</table>
<p align="center">  <font size="2" face="serif">Registrant&#8217;s Telephone Number, Including
Area Code:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>(610</b><b>) 934-7000</b></font></p>
<p align="center"><font size="2" face="serif"><b>Not Applicable</b></font><br>
<font face="serif" size="1">(Former Name or Former Address, if Changed Since Last Report)</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<i>see </i>General Instruction A.2. below):</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td height="1" valign="top" bgcolor="#000000"></td>
  </tr>
  <tr>
    <td height="2" valign="top" bgcolor="#FFFFFF"></td>
  </tr>
  <tr>
    <td height="4" valign="bottom" bgcolor="#000000"></td>
  </tr>
</table>
<p align="center">&nbsp;</p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p?"></a>
<p>&nbsp;</p>
<p><font size="2" face="serif"><b>Item 3.01. Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing.</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December 11, 2006, the Registrant&#8217;s Board of Directors decided to withdraw the listing of its Class A common stock from NYSE Arca, Inc., formerly the Pacific Exchange, effective with the opening of trading on January 2, 2007. On that same date, the Registrant sent notice to NYSE Arca that it would be voluntarily delisting and issued a press release announcing its decision. </font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant is seeking stockholder approval at its next annual meeting for a one for 100 reverse stock split for the purpose of ending its status as an SEC reporting company to avoid the significant costs associated with being a publicly reporting registrant. The Board of Directors has established Friday, December 29, 2006 as the date for the annual meeting for stockholders of record as of November 15, 2006. In anticipation of receiving stockholder approval to effect the reverse stock split and in order to avoid the incurrence of NYSE Arca's listing fees for 2007, the Registrant  is voluntarily withdrawing the listing of its Class A common stock from NYSE Arca effective with the opening of trading on January 2,
2007. Assuming that stockholder approval is obtained for the reverse stock split at the Registrant's annual meeting, the Registrant would anticipate filing an amendment to its certificate of incorporation to effect the reverse stock split shortly thereafter. If the Registrant did not voluntarily delist from NYSE Arca, the Registrant would not be eligible for listing on NYSE Arca after it ceases reporting to the SEC and NYSE Arca would suspend trading in the Registrant's Class A common stock. The Registrant expects that once it has delisted from NYSE Arca that its Class A common stock will trade on the Pink Sheets under the trading symbol &quot;XAN.&quot;</font></p>
<p align="center">&nbsp;</p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p?"></a>
<p>&nbsp;</p>
<p align="center"><font size="2" face="serif"><b>SIGNATURES</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
    to the requirements of the Securities Exchange Act of 1934, the registrant
    has duly caused this report to be signed on its behalf by the undersigned
    thereunto duly authorized.</font></p>
<p align="left">&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="50%">&nbsp;</td>
    <td colspan="2"><font size="2" face="serif"><b>PEGASUS COMMUNICATIONS CORPORATION</b></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td width="4%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="serif">By</font></td>
    <td><font size="2" face="serif"><u>/s/ Scott A. Blank&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font size="2" face="serif">Scott A. Blank,<br>
Senior Vice President</font></td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
</table>
<p align="left"><font size="2" face="serif">Date:  December 14, 2006</font></p>
<p align="center">&nbsp;</p>
<hr noshade align="center" width="100%" size="2">
</body>
</html>
[{"type": "8-K", "sequence": "1", "filename": "b416400_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 8410}]
{"company-data": {"conformed-name": "PEGASUS COMMUNICATIONS CORP /", "cik": "0001135338", "assigned-sic": "4833", "irs-number": "233070336", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32700", "film-number": "061277300"}, "business-address": {"street1": "225 CITY LINE AVE", "street2": "STE 200", "city": "BALA CYNWYD", "state": "PA", "zip": "19004", "phone": "8884387488"}, "mail-address": {"street1": "225 CITY LINE AVE", "street2": "STE 200", "city": "BALA CYNWYD", "state": "PA", "zip": "19004"}, "former-company": {"former-conformed-name": "PEGASUS HOLDINGS CORP I", "date-changed": "20010221"}}
Prepared and filed by St Ives Financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): December 11, 2006
_________________
PEGASUS
        COMMMUNICATIONS CORPORATION
(Exact Name of Registrant as Specified
    in Charter)
Delaware
0-32383
23-3070336
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
c/o Pegasus Communications Management Company
225 City Line Avenue
Bala Cynwyd, Pennsylvania
19004
(Address of Principal Executive Offices)
(Zip Code)
Registrant's Telephone Number, Including
Area Code:
(610
) 934-7000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 3.01. Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On December 11, 2006, the Registrant's Board of Directors decided to withdraw the listing of its Class A common stock from NYSE Arca, Inc., formerly the Pacific Exchange, effective with the opening of trading on January 2, 2007. On that same date, the Registrant sent notice to NYSE Arca that it would be voluntarily delisting and issued a press release announcing its decision.
The Registrant is seeking stockholder approval at its next annual meeting for a one for 100 reverse stock split for the purpose of ending its status as an SEC reporting company to avoid the significant costs associated with being a publicly reporting registrant. The Board of Directors has established Friday, December 29, 2006 as the date for the annual meeting for stockholders of record as of November 15, 2006. In anticipation of receiving stockholder approval to effect the reverse stock split and in order to avoid the incurrence of NYSE Arca's listing fees for 2007, the Registrant  is voluntarily withdrawing the listing of its Class A common stock from NYSE Arca effective with the opening of trading on January 2,
2007. Assuming that stockholder approval is obtained for the reverse stock split at the Registrant's annual meeting, the Registrant would anticipate filing an amendment to its certificate of incorporation to effect the reverse stock split shortly thereafter. If the Registrant did not voluntarily delist from NYSE Arca, the Registrant would not be eligible for listing on NYSE Arca after it ceases reporting to the SEC and NYSE Arca would suspend trading in the Registrant's Class A common stock. The Registrant expects that once it has delisted from NYSE Arca that its Class A common stock will trade on the Pink Sheets under the trading symbol "XAN."
SIGNATURES
Pursuant
    to the requirements of the Securities Exchange Act of 1934, the registrant
    has duly caused this report to be signed on its behalf by the undersigned
    thereunto duly authorized.
PEGASUS COMMUNICATIONS CORPORATION
By
/s/ Scott A. Blank
Scott A. Blank,
Senior Vice President
Date:  December 14, 2006