Intelsat completed its acquisition of the North American satellites and related customer contracts of Loral Space & Communications Corporation. The $961.1 million purchase enhances Intelsat's global market position by adding full coverage of North America to the Intelsat fleet and expanding its customer base in the broadcasting, cable television and corporate networking segments.
The deal also includes insurance rights related to the failure last year of the Telstar 4 satellite, which could total up to $140 million. http://www.intelsat.com
- Intelsat was the highest bidder in an auction for Loral's North American telecommunications satellites. 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.
