The FCC has approved the transfer of Loral's FCC licenses to Intelsat. The approval was required in connection with Intelsat's proposed purchase of the North American satellite assets of Loral Space & Communications Corporation. http://www.intelsat.com
- Intelsat was the highest bidder in an auction for Loral's North American telecommunications satellites. The winning bid was $1.1 billion. The other bidder at the auction was EchoStar Communications Corporation. The deal covers the sale of the in-orbit Telstars 4, 5, 6, 7 and 13, as well as Telstar 8, which is scheduled to be launched in the first half of next year.
