The IRAA meets annually each October for its General Assembly
and Social Gathering.
It also holds an early Summer picnic jointly with COMARA (Comsat
Alumni & Retirees Assoc.) and Intelsat staff between MAY-JUN; a
biennial Winter Social between JAN-FEB and a biennial
late Summer Social between AUG-SEP.
All events provide a great opportunity for old friends & former
colleagues to gather for memorable occasions of fellowship and
camaraderie.
If you are not yet a member of the IRAA and would like to join,
please
CLICK
here.
Intelsat Expects
$2.1B in Revenue This Year, Execs Outline Pivot to Solutions Provider
Posted: 3
December 2023
by Rachel Jewwett | December 1, 2023
McLean, VIRGINIA — Intelsat expects to earn $2.1
billion in revenue this year, CEO David Wajsgras said during an investor
day event on Nov. 30, giving a rare look at the company’s finances and
outlining its “strategic reset” from a bandwidth supplier to an
end-to-end solutions provider.
Executives said Thursday that the company is in the
best financial position in a long time, after using C-band proceeds to
pay down its debt. Intelsat emerged from bankruptcy proceedings about 18
months ago, cutting its debt in the process from from approximately $16
billion to $7 billion.
Intelsat wins IFC on Aerolineas
Argentinas
Posted:
23 November 023
by Mark Homes --November 21, 2023
Intelsat has made a breakthrough in the in-flight
connectivity (IFC) market in Latin America. It announced Nov. 20 that
Aerolíneas Argentinas has tapped Intelsat to provide multi-orbit
in-flight connectivity services on 18 Airbus A330 and Boeing 737 MAX
aircraft.
The airline will become the first in Latin America to
offer service using Intelsat’s new electronically steered antenna (ESA).
It is less than 7 centimeters tall and interoperates on both Intelsat’s
family of Geostationary (GEO) satellites and its partner’s constellation
of Low-Earth Orbit (LEO)
.Click
HERE
for
further details from
Advanced Television
Unitedhealth
sued for allegedly using AI to deny elderly patients care
Posted:
19 November 2023
(Has UHC become a 'bottom feeder' in the medical
insurance field?)
A lawsuit says UnitedHealth used an artificial
Intelligence algorithm to systematically deny patients the care they
neededl
By: Alex Arger
Posted at 9:59 PM, Nov 16, 2023 and last updated 9:59 PM, Nov 16, 2023
UnitedHealth Group is being sued for allegedly using
an artificial intelligence algorithm to systematically deny elderly
patients rehabilitative care.
The class action lawsuit, filed Tuesday in Minnesota
district court, says the defendants — UnitedHealth Group,
UnitedHealthCare and NaviHealth — illegally used an AI model called nH
Predict in place of medical professionals despite knowing it had a 90%
error rate. This helped the group continuously deny Medicare Advantage
Plan patients the care their doctors said was necessary, such as nursing
facility stays, by "predicting" what a patient "should" require instead
of what they actually do, the lawsuit states.
Click
HERE
for
further details from
news5cleveland.com
Intelsat
Responds to SES's "bombastic brief"
Posted: 16 November 2023
November 15, 2023
| By Chris Forrester
SES might have received the FCC’s $3 billion (€2.76bn)
in compensation for handing over its C-band satellite frequencies in
October 2023. But the long-running arguments over how the FCC’s overall
compensation was allocated continue to resonate between SES and
Intelsat.
Lawyers for SES filed their argument to Intelsat’s
bankruptcy court on September 28th seeking about $421 million in extra
payment from Intelsat and as part of a 50/50 agreement between SES and
Intelsat. Their argument has the support of a successful appeal in front
of the District Court.
ClickHEREfor
further details from
Advanced Television
UK
pushing to combine OneWeb Gen 2 and European sovereign constellation
efforts
Posted: 4
November 2023
by Jason Rabinow | November 3, 2023
TAMPA, Fla. — The U.K.’s space minister hopes to
convince Europe to use OneWeb’s proposed second-generation satellites
instead of pursuing a standalone constellation now that the British
operator has merged with Eutelsat of France.
Europe’s plans for a global sovereign connectivity
network by 2027 could take the form of hosted payloads on the upgraded
low Earth orbit (LEO) satellites Eutelsat aims to deploy around the same
time, George Freeman told SpaceNews in an interview.
Combining efforts would save costs during tough
economic conditions while also reducing the mass of objects in space.
SES
and Boeing in a mess over O3b
Posted: 2
November 2023
November 1, 2023
The latest batch of O3b satellites, called mPOWER, are
all malfunctioning. The problem is in the power supply of the four in
orbit and two others due to be launched on November 12th. Manufacturers
Boeing is having to supply two additional satellites to compensate SES
for the problems.
SES temporary CEO, Ruy Pinto, admitted to analysts
that the power problems are worse than originally thought and that the
fleet’s expected orbital lifetime will be significantly shorter than
planned. SES said on October 31st that the existing orbiting satellites
had suffered increasing “non-recoverable” events.
.Click
HERE
for
further details from
Advanced Television
SpaceX launches Intelsat's IS-40e high
throughput satellite
Posted:
1 November 2023
by Jason Rabinow-- 31
October, 2023
TAMPA, Fla. — Electrical issues disclosed a few months
ago on the first four O3b mPower satellites in medium Earth orbit will
significantly reduce their operational life and broadband capacity,
their operator SES announced Oct. 31.
SES interim CEO Ruy Pinto said getting the performance
originally expected from the next-generation MEO constellation will
require Boeing to build two more O3b mPower satellites than initially
planned, alongside upgrades on five others already in the works.
Two upcoming O3b mPower satellites set to launch in a
few weeks will not have these upgrades to enable SES to start initial
services no earlier than April.
SES and Boeing to Share Risk and CapEx on
2 Additional mPOWER Satellites
Posted:
1 November 2023
by Rachel Jewett | 31 October,
2023
SES is pushing back the start of commercial service
for its O3b mPOWER constellation to early in the second quarter of 2024,
as it deals with power module issues on the satellites. To deal with the
impact to the constellation, SES “reshaped” its contract with
manufacturer Boeing to upgrade five of the remaining satellites and add
two new satellites to the constellation.
CEO Ruy Pinto gave an update on the next-generation
Medium-Earth Orbit (MEO) program on Tuesday during SES’s third quarter
2023 call with investors. In August, SES reported “trip offs” on some of
the power modules on board the four satellites on orbit.
Next-Generation Cybersecurity Defenses
Coalesce for Space Systems
Posted:
24 October 2023
by Thom Fain | 23 October,
2023
Experts are optimistic about the future of
cybersecurity as it relates to space, despite growing concern over the
modern threat environment.
It’s no secret that advancements in AI are growing in
parallel with the ambitions of foreign adversaries. Although not limited
to state actors, the most obvious threats to Western cyber
infrastructure are China and Russia – countries with antagonistic
tendencies who happen to be launching inspector satellites into space.
Any number of Cold War analogies can be made in 2023,
a year we saw the Pentagon ask for $3 billion for AI/ML capabilities
while Elon Musk’s Starlink has been integral in the war between Ukraine
and Russia. Regardless of the war’s eventual outcome, cyber
confrontation is likely to continue at scale. However, experts are
optimistic about the future of cybersecurity as it relates to space, in
spite of the growing concern over the modern threat environment.
SES
Wins Space Force Contract, Launches New Media
Posted: 21
October 2023
by Mark Homes -- October
20, 2023
SES Space & Defense was awarded a a five-year,
Indefinite Delivery Indefinite Quantity (IDIQ) U.S. Space Force contract
for proliferated Low Earth Orbit (pLEO) satellite-based services (SBS)
through the Defense Information Systems Agency’s (DISA) Defense
Information Technology Contracting Organization (DITCO). SES announced
the deal, Oct. 20.
“The pLEO IDIQ is the first multiple award contract to
deliver pLEO COMSATCOM services to the government and military. The
contract structure is part of the U.S. Space Force’s new approach to
acquiring SATCOM. These awards are foundational for COMSATCOM
integration and proliferation into new waveforms and orbits enabling
connectivity and communication at the tactical edge,” David Fields, SES
Space & Defense President and CEO, said in a statement.
.Click
HERE
for
further details from
Advanced Television
SES Appoints
Adel Saleh as CEO
Posted: 14
October 2023
Luxembourg, 13 October 2023 – SES, a leading provider
of global content connectivity solutions, today announced that Adel Al-Saleh
has been hired as the company’s Chief Executive Officer, effective
February 2024.
Since January 2018, Al-Saleh has been CEO at T-Systems
International GmbH, the integrated IT services provider and subsidiary
of telecommunications company Deutsche Telekom AG (DT), and he has
served as a member of the Board of Management at DT throughout this
period. In his time at T-Systems, Al-Saleh led the transition from a
classic information technology and outsourcing business to an integrated
IT services and digital solutions provider while driving growth
initiatives to optimise operations, improve efficiency, increase
customer satisfaction, expand employee engagement and maximise
profitability.
SpaceX Aims to Offer Starlink
Direct-to-Cell Text Service in 2024 IoT By 2025
Posted:
12 October 2023
by Rachel Jewett | 11 October,
2023
SpaceX is targeting direct-to-cell service that
enables text messaging with the Starlink constellation in 2024, and
voice and data and IoT service by 2025. SpaceX updated Starlink’s
website with a new page focusing on direct-to-cell service.
SpaceX Chief Engineer Elon Musk previously gave the
target that Starlink would enter beta service for direct-to-cell with
T-Mobile in late 2023. Starlink announced the deal with T-Mobile last
year, pitching the service as a way to close gaps in cellular networks
in rural and remote areas and allow T-Mobile customers to send messages
via Starlink satellites.
Starlink has signed a number of other global cellular
providers as partners — Rogers in Canada, Optus in Australia, One NZ in
New Zealand, KDDI in Japan, and Salt in Switzerland.
Matt Frumin: A
Unique Moment for an Extraordinary Opportunity
Posted:
11 October
2023
By Matt Frumin | October 10, 2023
The former Intelsat headquarters, located at 4000
Connecticut Ave. NW, just one block from a Metrorail stop, offers a rare
opportunity for the District to acquire a massive property that can
serve all Washingtonians.
The 660,000-square-foot building, which most recently
housed the international independent Whittle School, is currently on the
market. It is sited on a lot with up to 45,000 square feet of
developable land, not including the lovely park along Connecticut Avenue
that should be preserved.
Significant portions of the building are turn-key and
ready for myriad uses, especially educational programs for all ages. The
site is one of the few of its size ripe for development in our city, and
it would be a travesty not to seize upon this unique opportunity.
Inflation is already running past next year's Social Security COLA
Posted:
3 October 2023
by Brett Arenda
| 3 October, 2023
The latest inflation figures from the United States
government are worrying news for senior citizens -- and I'm not even
talking about 80-year-old Joe Biden, although they threaten his
re-election campaign as well.
Social Security beneficiaries are going to have to
make do with a mere 3.2% cost-of-living-adjustment to their monthly
checks starting January, the program's administrators said Thursday.
Read: Social Security's COLA for 2024 is 3.2%, vs.
2023's historic 8.7% inflation-fueled adjustment
10
Takeaways from World Satellite Business Week 2023
Posted:
28 September 2023
by Rachel Jewett | 26 September, 2023
Eutelsat Communications has announced the completion
of its all-share combination with OneWeb, the global low Earth orbit
(LEO) satellite communications network, following the approval at the
Ordinary and Extraordinary General Meeting of Eutelhareholders in Paris.
The combination forms Eutelsat Group.
The company remains headquartered in Paris. OneWeb
will be a subsidiary operating commercially as Eutelsat OneWeb with its
centre of operations remaining in London. The Company remains listed on
the Euronext Paris Stock Exchange and has applied for standard listing
on the London Stock Exchange.
Eutelsat, OneWeb
complete merger
Posted:
28 September 2023
September 29, 2023 | By Chris Forrester
Eutelsat Communications has announced the completion
of its all-share combination with OneWeb, the global low Earth orbit
(LEO) satellite communications network, following the approval at the
Ordinary and Extraordinary General Meeting of Eutelsat shareholders in
Paris. The combination forms Eutelsat Group.
The company remains headquartered in Paris. OneWeb
will be a subsidiary operating commercially as Eutelsat OneWeb with its
centre of operations remaining in London. The Company remains listed on
the Euronext Paris Stock Exchange and has applied for standard listing
on the London Stock Exchange.
Click
HERE
for
further details from
Advanced Television
The Future of Smart
Phones with Satellite Direct-to-Handset
Posted:
27 September 2023
by Ivan Suarez | 26 September, 2023
There is a sense of safety that comes with being
connected, a contemporary feeling that surpasses cultures and
identities. Losing access to data, voice or messaging services deters
users around the world from exploring unique places and fulfilling their
dreams as that important sense of security vanishes. Satellite
connectivity has for decades allowed privileged users to remain
connected – and safer – thanks to orbital systems that made their world
smaller with specialist devices operating under mobile satellite
services (MSS).
In 2022, the telecommunications sector made history by
bridging the previously thought impossible link between cell phones and
satellite networks, what we refer to as “direct-to-handset” (DTH)
connectivity. It took the alignment of a mature non-Geostationary (NGSO)
system, advanced nanotechnology, as well as active cooperation between a
smartphone manufacturer and a satellite operator to make DTH a reality,
because the network and commercial hurdles were too complex to solve
without economic incentives.
How Two SATCOM
companies are responding to Starlink's dominance
Posted:
15 September 2023
By Courtney Albon | September 15, 2023
LONDON — With SpaceX’s Starlink constellation
dominating the space-based communications market, longstanding satellite
operators are positioning themselves to compete with the
billionaire-owned company — particularly when it comes to military and
government services.
SpaceX, with its 5,000-satellite Starlink fleet, has a
hedge on the satellite communication market, but executives at
U.K.-based OneWeb and Luxembourg-based Intelsat told C4ISRNET this week
during the DSEI conference here they see opportunities to join the
behemoth in meeting increasing connectivity demands.
SES vs Intelsat
C-band payments: Court dates set
Posted:
15 September 2023
September 14, 2023
The long-running legal action from SES arguing for a
greater share of the FCC’s C-band compensation payments, and which
demands Intelsat honour its 50/50 agreement with SES, has now set some
key dates for the action.
SES has already received a positive Appeal verdict
from the US District Court and now the lower Bankruptcy Court must
accommodate that verdict.
Click
HEREfor
further details from Advanced Television
LEO Operators Pitch
the Orbit's Value for IFC at Connected Aviation Event
Posted:
14 September 2023
by Davd Hodes
| September 13, 2023
DENVER, COLORADO — Satellite operators building
constellations in Low-Earth Orbit (LEO) are targeting in-flight
connectivity as a critical market for their businesses. Executives made
bold projections for how airlines will adopt LEO at the Connected
Aviation Intelligence Summit, in Denver, Colorado, on Sept. 7.
Jason Sperry, head of Business Aviation for OneWeb,
projects that the aviation and airline community will “absolutely”
achieve a majority of traffic over LEO by 2030, estimating 50% or more.
Ronald van der Breggen, chief commercial officer at
Rivada Space Networks, agreed on LEO’s significance, but put the traffic
figure at more than 70%. “It’s all about the user,” he said. “It’s not
about what the airlines want, or the capabilities of the satellite
companies. It’s about the end user.”
Click
HEREfor
further details from Avionics International
SES
Teams Up with Starlink to Package Connectivity for the Cruise Segment
Posted:
14 September 2023
by Mark Homes,
Rachel Jewett
| September 13, 2023
SES is bringing a new multi-orbit hybrid connectivity
solution to the cruise industry, integrating SpaceX‘s Starlink
connectivity into its offering for cruise companies. The joint offering
announced Wednesday is SES Cruise mPOWERED + Starlink. The solution will
be available in the fourth quarter of this year.
The product will be integrated, sold, and delivered by
SES. The operator pitched it as combining the best of Medium-Earth Orbit
(MEO) and Low-Earth Orbit (LEO) for high-speed and secure cruise
connectivity. The solution is available in either a Premium tier at
3Gbps per ship, or the Pro tier at 1.5 Gbp per ship.
Intelsat, Aalyria Sign Deal to Advance Multi-Orbit Connectivity
Posted:
13 September 2023
September 12, 2023
MCLEAN, Va. – Intelsat, operator of one of the world’s
largest integrated satellite and terrestrial networks and leading
provider of inflight connectivity (IFC), today signed a Memorandum of
Understanding (MoU) with Livermore, California-based Aalyria, the
advanced software-defined and optical networking communications pioneer,
that includes financial commitments to advance the development of a new
optical technology that will transfer record amounts of data between
ground and space.
“Aalyria’s groundbreaking technologies give us the
opportunity to pursue highly-secure connectivity at unprecedented
speeds, opening up new frontiers in satellite communications,” said
Bruno Fromont, Intelsat Chief Technology Officer. “The Intelsat-Aalyria
collaboration will enable enhanced mobile broadband connections and
represents another step forward towards our Next Generation Unifying
Network vision enabled by software-defined networking, 5G and
multi-orbit operations.”
Intelsat
wins Air Canada IFC
Posted: 8
September 2023
Long-te
rm
relationship between satellite connectivity provider and Canada’s
leading airline expands to include 100 additional aircraft equipped for
Wi-Fi with craft using new antenna
by Joe
O'Halloran | Published 7 September 2023 16:15
The reach of satellite-based data
services is rapidly expanding to more places on Earth and in the sky as
airline passengers come to expect in-flight connectivity as a standard.
Addressing the needs of its passengers,
Air Canada has turned to Intelsat – one of the world’s leading providers
of in-flight connectivity (IFC) – to provide connectivity systems for
nearly 100 additional aircraft across its fleet, including Intelsat’s
multi-orbit electronically steered array (ESA) antenna.
Air Canada is Canada’s largest airline,
the country’s flag carrier and a founding member of Star Alliance,
claimed to be the world’s most comprehensive air transportation network.
Air Canada provides scheduled service directly to more than 180 airports
in Canada, the US and internationally on six continents.
To further enhance customer experience
through the use of technology, it has partnered with Bell to offer free
messaging for all members of its Aeroplan customer loyalty scheme
worldwide on all Wi-Fi equipped aircraft across Air Canada’s fleet.
Click
HERE
for
further details from Computer Weekly
Intelsat and and SES Complete C-Band
Spectrum Clearing
Posted:
15 August
2023
by Rachel Jewett | August 14, 2023
Both Intelsat and SES report they have completed
activities to clear C-band spectrum, paving the way for the two
companies to receive billions of dollars in payments.
This closes out the operators’ work to clear a portion
of the C-band after the FCC reallocated the C-band for wireless use in
2020. Overall, satellite operators received relocation costs and a total
of $9.7 billion to clear the spectrum, while the auction grossed $80.9
billion, setting a record as the highest-grossing FCC auction.
SES confirmed on Aug. 10 that the FCC certified its
C-band clearing including launching five new satellites and repacking
all of its C-band downlink services in the continental United States in
a certain portion of the band.
SES is now eligible to receive its second chunk of
accelerated relocation payment, totaling $2.99 billion, before tax
estimated at about 18% to 19%. SES expects this payment to be made in
the fourth quarter of this year.
Intelsat
Galaxy 37/Horizons-4 Satellite Successfully Launched
Posted:
4 August 2023
MCLEAN, Va. – Intelsat, operator of one of the
world’s largest integrated satellite and terrestrial network and leading
provider of inflight connectivity, announced the successful launch of
Galaxy 37/Horizons-4 (G-37/H-4), setting a new record for the commercial
satellite industry by sending eight geostationary satellites into space
within 10 months.
“This launch completes our comprehensive Galaxy fleet
refresh plan started about 10 months ago,” said Dave Wajsgras, CEO at
Intelsat. “This milestone is now a part of the 40-year Galaxy legacy –
satellites our North American customers have relied on for decades. It
also marks the 20-year anniversary of our JSAT partnership. This joint
venture has allowed both companies to serve more customers in more
places throughout the world.”
ClickHEREfor
further details from
Advanced Television
District Court
"Sides With SES Over Intelsat in C-Band Claims
Posted:
27 June 2023
By Rachel Jewett | June 26, 2023
A judge has sided with SES in an ongoing dispute over
$421 million of Intelsat’s C-band proceeds, ruling that the previous
bankruptcy court erred in siding with Intelsat. The June 22 opinion was
released just after Intelsat pulled out of potential merger talks with
SES.
Senior U.S. District Judge Robert Payne’s opinion says
the bankruptcy court’s decision will be reversed, and sent the case back
to bankruptcy court. The case was in the U.S. District Court for the
Eastern District of Virginia, Richmond division, case No. 3:22-cv-668.
“The judgment of the bankruptcy court will be reversed and this matter
will be remanded to the bankruptcy court for further proceedings
consistent with this opinion,” Judge Payne said in the opinion, accessed
via Pacer.
Intelsat and SES
$10bn merger talks scrapped
Posted:
23 June 2023
by Jack Haddon June
22, 2023 03:41 PM
Satellite companies proposed deal will not be taking
place after three months of official talks Consolidation in the
satellite industry is expected to significantly increase in the coming
years, as legacy operators struggle to meet the scale of the disruptive
forces of SpaceX and Amazon.
One such merger that was touted between
Luxembourg-based SES and US firm Intelsat, however, will not be taking
place.
Rumours had been swirling that the two companies would
be merging for a while, with the two companies confirming talks had
begun in March.
Sources from SES told Bloomberg on Wednesday that
Intelsat had walked away from the deal and a short statement was posted
to SES’s website today.
“SES announces today that discussions regarding a
possible combination with Intelsat have ceased. On 29 March 2023, SES
had confirmed that the company engaged in discussions with Intelsat and
that there could be no certainty that a transaction would materialise,”
it read.
.ClickHERE
for
further details from
Capacity
Media
SES CEO Steve
Collar announces sudden resignation
Posted:
13 June
2023
by Jason Rabinow--June
12, 2023
TAMPA, Fla. — Steve Collar announced plans June 12 to
step down as SES CEO at the end of the month after more than 20 years
with the multi-orbit satellite operator.
SES chief technology officer Ruy Pinto, a former chief
operating officer at Inmarsat who joined SES in 2017, is taking the
company’s reins until it can find a permanent successor.
Luxembourg-based SES said in a news release that
Collar is leaving to pursue other professional and personal endeavors —
without elaborating.
Despite his sudden departure, SES vice president of
external communications Suzanne Ong said Collar plans to remain fully
available to the company beyond June 30 to support a smooth transition.
Intelsat:
'Insider trading' appeal lodged
Posted: 31
May 2023
May 30,
2023
T
he Intelsat Class Action
into alleged insider trading, which had earlier been dismissed by a
District Court judge on April 26th, has seen an appeal lodged.
The case revolves around alleged insider trading over
the sale of Intelsat shares by certain shareholders including the then
chairman Dave McGlade. The sale allegedly took place ahead of the FCC
deciding to itself auction off C-band frequencies. Prior to the FCC
decision it had been expected that members of the Alliance (notably
Intelsat and SES) would themselves sell off their frequencies.
The new appeal argues against the dismissal of the
case made by Judge Jeffrey White. The appeal is lodged with the US Court
of Appeals for the 9th Circuit. The confidential witnesses in the case,
who gave evidence in favour of the Plaintiffs, did not add enough
relevant detail to support the Class Action, said Judge White in his
ruling.
ClickHEREfor
further details from
Advanced Television
Welcome New
Member
Posted:22
May 2023
We are pleased to Welcome the following new member
to the Intelsat
Retirees and Alumni Association:
March
2023
Andrew Lee
Connecting the Dots | SES-Intelsat merger
would face uphill regulatory struggle
Posted: 27 April
2023
by Jason Rabinow--April
25, 2023
Plenty of
operational synergies await SES and Intelsat if the world’s largest
fixed satellite service (FSS) providers can craft a merger able to clear
regulatory scrutiny.
Following years of industry speculation, SES confirmed
it was in early talks about combining with Intelsat on March 29, shortly
after Bloomberg reported a deal could be just weeks away.
A merger would bring together more than 70 satellites
SES has across geostationary and medium Earth orbit with Intelsat’s more
than 50 geostationary satellites, forming a company exceeding $4 billion
in annual revenues.
Pooling resources would help them rationalize their
fleets as capacity prices come under pressure from a flood of satellites
coming to orbit.
High throughput satellites supplied around 2.7
terabits per second (Tbps) of capacity across geostationary and
non-geostationary orbit (NGSO) in 2021, according to Northern Sky
Research. This jumped to nearly 21 Tbps in 2022 and is on track to more
than double to around 43 terabits next year.
Intelsat
'Class Action' judge ready to decide
Posted: 21
April 2023
April 20, 2023
| Advanced Television
Intelsat’s long-running Class Action lawsuit against
key shareholders alleging insider trading will be decided by a judge on
the basis of documents and motions already filed to the court.
The judge in the case has cancelled a planned full
court hearing (which called for a jury trial) and dismissed some of the
motions in the case. The hearing was due on April 28th.
.Click
HERE
for
further details from
Advanced Television
Intelsat orders another space tug rescue
Posted:
14 April 2023
April 14, 2023 | By Chris Forrester
Intelsat has ordered a Mission Extension Pod (MEP)
from Northrop Grumman’s SpaceLogistics, which will add life to an
Intelsat satellite and provide uninterrupted services to many customers.
The MEP jet pack often referred to as a ‘space tug’
will be installed by SpaceLogistics’ mission robotic vehicle (MRV) on an
Intelsat satellite operating in geosynchronous orbit, ensuring
continuity of satellite service for at least six years beginning in
2026. Intelsat has not identified which satellite will be serviced. Both
MEP and MRV have completed critical design reviews, are in assembly and
testing, and are proceeding toward launch.
Click
HERE
for
further details from
Advanced Television
SpaceX launches Intelsat's IS-40e high
throughput satellite
Posted: 8
April 2023
by Jason Rabinow-- 7
April, 2023
TAMPA, Fla. — SpaceX successfully launched Intelsat’s
IS-40e communications satellite April 7, which will help the operator
meet growing demand for connectivity on planes while also carrying its
first hosted payload for NASA.
The satellite deployed solar arrays and is receiving
and sending signals in geosynchronous transfer orbit following its 12:30
a.m. Eastern launch, its manufacturer Maxar Technologies confirmed.
The first stage booster of the Falcon 9 rocket that
lifted IS-40e off from Cape Canaveral Space Force Station, Florida, also
successfully landed on a drone ship for later reuse.
It will take three weeks for the satellite to use
onboard chemical propulsion to reach its final orbital slot at 91
degrees West over North America, Jean-Luc Froeliger, Intelsat’s senior
vice president of space systems, told SpaceNews in an interview.
Intelsat
[Class] Action: "Core deficiencies remain"
Posted: 4
April 2023
April 3, 2023
| Advanced Television
The
long-running Class Action against alleged Intelsat inside traders has
seen a rebuttal submitted by the Defendants. They argue that the
Plaintiffs have failed to make their case and has not made any plausible
facts demonstrating that Intelsat obtained any material non-public
information prior to the Defendants [sale of shares]. The rebuttal calls
for the court to dismiss the Action.
The events
that lead up to the claim state that on the morning of November 5th
2019, a meeting took place with Intelsat’s CEO Steve Spengler at the FCC
to discuss Intelsat’s (and SES) C-band proposal for a private auction of
some of the satellite company’s C-band assets over the US.
Click
HERE
for
further details from
Advanced Television
Market reacts to
SES, Intelsat rumours
Posted:
1 April
2023
by Chris Forrester - March 31,
2023
The potential link between the world’s two largest
satellite operators, SES and Intelsat, is intriguing the market. The
news – at this stage more rumour than hard fact – follows on from a slew
of similar mergers/acquisitions in the sector including Viasat’s
upcoming purchase of Inmarsat, Eutelsat’s merger with OneWeb, and plenty
of smaller satellite-based deals over the recent years.
The hard facts are that any agreement between the two
rivals would position them in a better place to compete with new
entrants such as Starlink and the proposed Jeff Bezos-backed Project
Kuiper.
Bloomberg, in its report on the rumours, states that
SES and Intelsat are in “advanced negotiations” and aiming to reach an
agreement in the next few weeks. A satisfactory conclusion could value
the combined business at more than $10 billion including some debt.
Click
HERE
for
further details from
Advanced Television
Intelsat and SES
are on a $10B collision course
Posted:
30
March 2023
IAIN MORRIS, March 30, 2023
An extra-terrestrial landing on planet Earth and hearing all the Musk
and Bezos babble about satellites could be forgiven for thinking they
were a new discovery for Earthlings. Yet Intelsat and SES have a
combined age of 96 and had equipment floating around in space long
before most people had phones in their pockets. Under attack from a
swarm of new satellites, including the constellations of the Tesla and
Amazon billionaires, these antiquities of the industry are now joining
forces in a deal valued at US$10 billion, according to a Bloomberg
story.
Intelsat buys
capacity on Hispasat's Anmazonas Nexus satellite
Posted:
18
March 2023
by Jason Rabinow-- March
17, 2023
TAMPA, Fla. — Intelsat has acquired a “significant
amount” of capacity from the recently launched Amazonas Nexus satellite
to meet demand for connectivity over the Americas, an executive for the
company told SpaceNews.
Gerry Collins, Intelsat’s director of product
management and networks, said the company is leasing the satellite’s
high-throughput Ku-band capacity from Spanish operator Hispasat for
customers across the United States, Brazil, and North Atlantic Ocean.
“We don’t discuss specific terms of our contracts, but
we are calling the satellite Intelsat 46 (IS-46), which means we are
making a long-term commitment [for] our customers,” he said.
SES vs Intelsat:
Appeal hearing March 20
Posted: 17
March 2023
by Chris Forrester -- March
16, 2023
The extremely
long-running C-band legal action between the world’s two largest
satellite operators, SES and Intelsat, is due in court next Monday,
March 20th.
SES is arguing
that it is entitled to a 50 per cent share of the FCC’s compensation
payments for the pair’s certain satellite C-band frequencies which the
FCC subsequently auctioned off to telcos for 5G usage. Specifically, SES
is arguing for a greater slice of the FCC’s Accelerated Relocation
Payment.
ClickHERE
for
further details from
Advanced Television
Intelsat to
Operate Air Pollution Monitoring Space Instrument
Posted:
15 March 2023
NASA and
Smithsonian Astrophysical Observatory are innovating to improve air
quality in North America
MCLEAN, Va --(BUSINESSWIRE) -- Intelsat, operator of one of the world’s
largest integrated satellite and terrestrial networks and leading
provider of inflight connectivity (IFC), completed testing of the
operational and data collection system for the first space-based
instrument to monitor major air pollutants across the North American
continent every daylight hour at high resolution. The new UV-visible
spectrometer, operated by Intelsat for NASA and the Smithsonian
Astrophysical Observatory, will be hosted on the Intelsat 40e (IS-40e)
satellite set for launch next month..
Known as TEMPO (Tropospheric Emissions: Monitoring of Pollution), the
mission of the instrument is to create a revolutionary new dataset of
atmospheric chemistry measurements from space. TEMPO data will play an
important role in scientific studies of phenomena such as rush-hour
pollution and the movement of emissions from forest fires and volcanoes.
Scientists could eventually apply TEMPO observations to air quality
alerts for people in pollution hot spots and those living with health
issues.
Eutelsat and
Intelsat Sign Multi-Orbit Contract Enhancing Connectivity with OneWeb
Services
Posted:
10 March 2023
9 March 2023
Eutelsat
Communications (Euronext: ETL) has signed a multi-orbit agreement with
Intelsat to enhance connectivity solutions over Europe, the Middle East,
and the Pacific, including OneWeb services.
Under this new
seven-year multi-million-euro capacity agreement with a progressive
roll-out of assets over 2023, leveraging Eutelsat’s High-throughput
satellites (HTS) in the Ku-band including the recently launched EUTELSAT
10B satellite and OneWeb’s constellation, Intelsat will be able to offer
connectivity solutions for air, land and sea.
This deal cements
a proposed deal previously announced on the EUTELSAT 10B satellite in
October 2019 between Eutelsat and Gogo Commercial Aviation, acquired by
Intelsat in 2020. The new capacity agreement adds OneWeb’s LEO
(low-Earth orbit) solution to a larger portion of Eutelsat’s HTS GEO
(geostationary orbit) assets (EUTELSAT 172B, the coming EUTELSAT 10B,
and the future Flexsat), creating a unique hybrid offer that provides
Intelsat with enhanced connectivity capacities.
“Any
reasonable person – and juror – would believe that there was insider
trading” states a motion from lawyers for the Class Action against some
Intelsat shareholders and the company chairman, Dave McGlade, provided
their detailed claim for the Northern District of California Court.
Their action is due to be heard on April 28th.
The Action argues that the defendants in the case sold
shares worth $246 million and thus avoid $185 million in losses but
“innocent investors were left [with nothing]”. The Action states each of
the named defendants “owed a fiduciary duty to Intelsat shareholders.”
Intelsat to keep headcount on par with growth
Posted:
1 March 2023
by
Simnikiwe Mzekandaba
-
Johannesburg, 13 Feb 2023
Multinational satellite services provider Intelsat is bullish about its
future growth prospects and the staff complement needed to support this
growth.
This is despite macro-economic conditions that have forced a number of
global tech companies to scale down their employee headcount in recent
weeks.
In an interview with ITWeb, Rhys Morgan, regional vice-president, EMEA
media and networks sales at Intelsat, says the company is pretty lean in
terms of personnel.
According to Morgan, Intelsat recently increased its number of
employees, following the acquisition of a commercial aviation business
that brought a “good number” of people into the fold.
“We’ve invested in terms of more people, and supporting key areas,” he
states. “We’re still a small company in terms of overall headcount. Our
view of business is that we see growth and where see growth, we need
people to support that growth.”
The electronically steered array (ESA) antenna is the
only commercially available product in the aviation industry capable of
operations with LEO and GEO satellites
MCLEAN, Va. – Intelsat, operator of one of the world’s
largest integrated satellite and terrestrial networks and leading
provider of inflight connectivity (IFC), today announced the successful
completion of inflight testing of its new electronically steered array (ESA)
antenna. This antenna enables global streaming-fast Wi-Fi service and is
available to airlines around the world.
Intelsat’s ESA is the only commercially available
antenna in the aviation industry that can operate between low Earth
orbit satellites and geostationary satellites. Announced in June 2022,
the new antenna has been accumulating flight hours with Ball, Stellar
Blu Solutions, Intelsat and OneWeb engineers validating antenna and
network performance.
We are pleased to Welcome the following new member
to the Intelsat
Retirees and Alumni Association:
February
2023
Wolfgang Wagner
SES, Intelsat,
Babcock win UK Skynet contract
Posted: 17 February 2023
by Chris Forrester -- February
16, 2023
A consortium of businesses have secured the UK’s
satellite Skynet military satellite communications system. SES and
Intelsat have linked with Babcock Integrated Technology to win the
management transition contract which covers the next 6 years of usage.
The contract is valued at £400 million (€450.4m) and
will lead to around 400+ new jobs in the UK.
Click
HERE
for
further details from
Advanced Television
SES, Intelsat
expenses action suspended
Posted:
7 February 2023
By Chris Forrester - 6 February
2023
SES has had a legal action
running against Intelsat which asks for Intelsat to pay what SES alleged
was Intelsat's 50 per cent of the costs of running the C-Band Alliance.
The action is paused while the larger legal action against Intelsat and
where SES is suing for a 50/50 division of the FCC's Accelerated
Relocation Payments. That action will be head in the next few weeks.
The C-band Alliance was formed
to plan an auction of SES and Intelsat's C-band frequencies. However,
the FCC came in with its own auction of the spectrum.
SES vs Intelsat
back in court
Posted: 1
February 2023
by Chris Forrester -- January
31, 2023
The long-running
legal action between SES and Intelsat is back in court on January 31st.
The hearing is focused on the SES claim that Intelsat pay what SES says
is its share of the costs associated with the C- band Alliance (CBA).
The CBA failed in
its plan to create a private auction of C-band satellite frequencies for
associated use for terrestrial 5G use. Instead the FCC handled the
auction of the satellite frequencies.
Click
HERE
for
further details from
Advanced Television
Intelsat Class
Action gathers pace
Posted: 27
January 2023
by Chris Forrester -- January
26, 2023
The long-running Class Action inside
trading allegations brought by some investors in Intelsat is coming to a
head. The action centres on allegations that Dave McGlade, then
chairman of Intelsat, in 20189, together with some major Intelsat stock
holders, sold significant portions of their holdings following a
specifric meeting between Intelsat and key officials the FCC where news
emerged that the Intelsat and SES C-band prviate auction scheme would
not be permitted by the FCC.
Back on Nov ember 4th 2022, the judge
hearing the Class Action dismissed the Plaintiffs' (Wlleye Opportunities
Master Fund, on behalf of its Class Action associates) move but allowed
them to resubmit their claim with extra detais.
Click
HERE
for
further details from
Advanced Television
Intelsat left
SES "on the hook" for C-band costs
Posted:
21 January 2023
January 20, 2023
SES has filed its response to
Intelsat's bankruptcy court, arguing that when the two parties signed
the 2018 [C-band] Consottium Agreement SES and Intelsat not only agreed
to share equally in any proceeds resulting from clearing the C-Band, but
they also agreed to share equally in expenses incurred in connection
with their efforts -- whether or not the parties realised any proceeds
from the C-Band clearing.
SES's response says that when
Intelsat repudiated the Consortium Agreement, Intelsat did not comply
with its expense reimbursement obligations, leaving SES on the hook for
tens of millions of dollars in expenses incurred on behalf of the C-Band
Alliance. The claim is for $11.6 million.
Intelsat is
making a concerted commitment to enhancing day-to-day network quality
and helping African communications service providers (CSPs) deliver
secure and affordable connectivity across the continent.
“Satellite
communications providers (CSPs) have historically rushed to the rescue
in the aftermath of a natural or manmade calamity that rendered a local
terrestrial network unavailable. Today, Intelsat is making a concerted
commitment to enhancing day-to-day network quality and helping African
CSPs deliver secure and affordable connectivity across the continent,”
said Intelsat’s Director of Sales, Africa Hans Geldenhuys in a blog
post.
Intelsat has won a contract to supply Japan Airlines
with its satellite broadband ‘direct-to-seat’ connectivity to J-Air’s
Embraer E-190 aircraft.
Japan Airlines has installed Intelsat’s 2Ku system on
the first of J-Air’s E190 aircraft and will be installing 13 additional
aircraft by autumn 2024. The airline has been offering free wireless
entertainment services since 2016. By adding 2Ku, this will make J-AIR
the first regional aircraft in Japan to offer inflight entertainment and
connectivity (IFEC) services, as well as the first E190 aircraft
equipped globally with the Intelsat 2Ku system.
A slew of legal documents were submitted to
Intelsat’s Chapter 11 post-bankruptcy reorganisation on December
28th by lawyers for Intelsat.
In essence, the filings represent the Final Report
on Intelsat’s post-bankruptcy proceedings and an application to
close certain outstanding matters.
One particular argument is over $12 million of
expense and cost claims (“Bill of Costs”) made by SES in relation to
its litigation – which is still running – over the 50/50 division of
the FCC’s C-band incentive payments.
This batch of documents – the core filing runs to
159 pages – are all part of the wrapping up of Intelsat’s
post-bankruptcy actions following on from Intelsat’s exiting of
bankruptcy back in February 2022.
The US Bankruptcy Court at Richmond, Virginia,
issued a formal notification of these final hearings back in October
2022. The motion to disallow the SES claim is set to be heard on
January 31st.
Lawyers for Intelsat are arguing that “SES cannot
succeed on these Expense Claims under any theory [and that] SES in
fact owes Intelsat multiple millions of dollars.”
Any objections to the application must be filed by
January 24th.
Click
HERE
for
further details from
Advanced Television
Powerful Ariane 5 rocket launches 3
satellites to orbit
Posted: 16 December 2022
A powerful European rocket sent three satellites to Earth
orbit on Tuesday (Dec. 13).
An Ariane rocket lifted off from Europe's Spaceport in
French Guiana on Tuesday at 3:30 p.m. EST *2030 GMT or 5:30 p.m. local
time)
The rocket's star payload was Emetsat's Meteosat Third
Generation (MTG) Imager-1, which will allow for "rapid detection and
forecasting of severe weather events," according to a statement by
Arianespace, the French company that operates the Ariane 5.
The newest generation of these satellites includes two
new instruments, an imager and lightning imager, for higher-quality data
to improve weather forecasting, according to a European Space Agency (ESA)
statement.
The Ariane 5 also boosted the Galaxy 35 and Galaxy35
geosynchronous communications satellites to orbit on behalf of Intelsat,
to replace the company's aging Galaxy 3C and Galaxy 28 satellites,
respectively. (Intelsat has been refreshing its satellite fleet since
2020, and these satellites are the fifth and sixth of the refresh
series.)
A US bipartisan House Energy & Commerce Committee hyas introduced
potential legislation to update the FCC's current satellite licensing
rules. One aspect will be the prohibition of Chinese businesses,
although it is not yet completely clear whether the legislation will
cover satellites where ownership - as distinct to components - includes
Chinese companies. This could affect Eutelsat and its merger with
OneWeb, for example. Eutelsat has a Chinese shareholder.
The legislation also covers Russia, although again further clarity will
be need on operators which are correctly licensed by the ITU and how
that would impact their US services.
Judge Jeffrey White has set some
key dates in the Intelsat 'inside trading' class action allegatgions.
The judge has set the case to be "answered, or a Motion to Dismiss" on
January 19th 2023. Any Opposition filing must be made by March 2nd
with a subsequent response from the Petitiners set with a deadline of
March 30th.
The next Motion to Dismiss
hearing is set for April 28th in Judge White's courtroom.
The complaint was originally
mounted earlier this year but the judge dismissed the Federal Class
Action but permitted the Plaintiffs to re-plead their case with more
detail. The claim has been resubmitted in the US District Court in
the Northern District of California. The Plaintiffs are asking for
a jury trial.
Two major shareholders in the
pre-bankruptcy Intelsat, plus the former chairman, are named again by
Plaintiffs in a Class Action which alleges they took part in selling off
investments in Intelsat help by inside knowledge.
The complaint was originally mounted
earlier in 2022, but the judge in the case dismissed the Federal Class
Action, nevertheless permitting to re-plead their case with more detail.
The claim has been resubmitted to the US District Court in the Northern
District of California. The Plaintiffs are asking for a jury trial.
Click
HERE
for
further details from
Advanced Television
Clearspace announces life extension collaboration with Intelsat
Posted 15 November 2022
The European Space Agency signed an 86 million euro contract with
ClearSpace to de-orbit part of a Vega rocket. Credit: ClearSpace
TAMPA, Fla.
— ClearSpace, the Swiss orbital debris removal startup, said Nov. 14
it is planning a mission to extend the life of an Intelsat satellite
before it runs out of fuel around 2026-2028.
The
four-year-old company’s announcement gave no further details about
its “collaboration” with Intelsat, which marks an expansion for
ClearSpace out of plans to clean up debris in low Earth orbit (LEO)
to servicing geostationary spacecraft.
Intelsat
declined to comment on the specifics of its collaboration with
ClearSpace.
“With this
in-orbit servicing collaboration, besides the economic benefits of
the services, Intelsat is supporting ClearSpace´s work towards an
accessible, resilient and sustainable space economy,” Intelsat chief
technology officer Bruno Fromont said.
ClearSpace
aims to build on core capabilities it is already developing for the
European Space Agency’s ClearSpace-1 program in 2025, the venture’s
first mission, when it aims to use a spacecraft with four
articulated arms to de-orbit part of a Vega rocket.
Separately
in September, the UK Space Agency shortlisted groups led by
ClearSpace and Japan-based in-orbit servicing venture Astroscale for
a mission to remove
two spacecraft from LEO in 2026.
Intelsat is
currently the only satellite operator that has employed commercial
life extension services.
TAMPA, Fla. — SpaceX successfully launched a second pair of C-band
replacement satellites for Intelsat over the weekend on the final flight
of a frequently used Falcon 9 booster.
A Falcon 9 carrying Galaxy 31 and Galaxy 32 lifted off Nov. 12 from Cape
Canaveral, Florida, at 11:06 a.m. Eastern after a four-day delay caused
by Hurricane Nicole.
In what has become a rare occurrence, SpaceX did not attempt to recover
the Falcon 9’s booster for reuse following its 14th mission — which tied
a reuse record for the company.
Using an expendable version of Falcon 9 enabled SpaceX to pack more
propellant into the rocket for sending the Maxar Technologies-built
satellites to a supersynchronous transfer orbit, rather than an orbit
with an apogee below geostationary orbit (GEO).
Jean-Luc Foreliger, Intelsat’s senior vice president of space systems,
said the operator paid a premium for this mission because the satellites
needed an extra boost toward their final GEO destinations.
Intelsat orders
small GEO satellite from 3D
printing specialist
Posted:
8 November 2022
by Jason Rainbow --November
7, 2022
TAMPA, Fla. — 3D printing specialist Swissto12 said Nov.
7 it has sold its first small satellite to Intelsat for a launch to
geostationary orbit (GEO) in 2025.
Intelsat 45 (IS-45) will be based on Swissto12’s
HummingSat satellite platform, which at about the size of a dishwasher
is one-tenth the size of conventional GEO satellites.
At just one cubic meter in volume, Swissto12 CEO Emile de
Rijk said HummingSats are “at least 3 times cheaper” than larger
telecoms commercial satellites in GEO.
HummingSats will also have the same coverage area as
traditional spacecraft in GEO, de Rijk said via email, although with
less capacity because of their reduced space for transponders and power.
Intelsat 45 will have 12 Ku-band transponders, about a
fourth as many as a classic mid-sized Intelsat satellite.
FCC
plans revamped Space Bureau
Posted:
4 November 2022
by Colin Mann --November
3, 2022
Federal Communications Commission
Chairwoman Jessica Rosenworcel has unveiled a plan to reorganise the
agency better to support the needs of the growing satellite industry,
promote long-term technical capacity at the FCC, and navigate 21st
global communications policy.
Under this plan, Chairwoman Rosenworcel
will work to reorganise the FCC's International Bureau into a new Space
Bureau and a standalone Office of International Affairs. These
changes will help ensure that the FCC's resources are better aligned so
that the agency can continue to fulfill its statutory obligations and
keep pace with the rapidly changing realities of the satellite industry
and global communications policy.
Click
HERE
for
further details from
Advanced Television
SES outlines
Intelsat appeal
Posted:
1 November 2022
by Chris Forrester --October
31, 2022
Lawyers for SES submitted their bundle of
documnts to the Appeal Court on October 28th, following up on their
formal appeal lodged on October 14th with the US District Court for the
Eastern District of Virginia.
In its 'statement of issues' the SES team
will argue that Intelsat's bankruptcy count "erred in holding that the
plain language of the [SES and Intelsat] Consortium Agreement - [which]
mandated a 50/50 split of the [FCC's incentive payments] unambiguously
excluded billions of dollars in incentive payments that the FCC awarded
based on Intelsat's joint work with SES."
Click
HERE
for
further details from
Advanced Television
Inntelsat CEO David Wajsgras:
'Consolidation Makes Sense'
Posted:
25 October 2022
by Mark Holmes --October
24, 2022
At World Satellite Business Week (WSBW) in Paris
recently, there was a lot of chatter about a potential combination of
Intelsat and SES. Rumors swirled, but this has always been an industry
that loves consolidation rumors.
For Intelsat CEO David Wajsgras, who only became the
CEO of Intelsat in early April, there are a number of huge challenges
ahead. He became CEO of Intelsat at a pivotal point in its history. The
2020s are likely to be a decade where we see huge disruption in the
satellite industry, and the role of traditional industry giants such as
Intelsat is open to debate.
What does its future look like? What can or will it do
in Non-Geostationary Orbit (NGSO)? Does it need to be involved in a big
piece of consolidation? How does it stack-up against the
megaconstellations as well as the likes of a combined Inmarsat/Viasat or
Eutelsat/OneWeb? What a time to become the CEO of one of the biggest
operators and be responsible for steering it through this disruptive
decade.
Satellite
operators gear up for Asia's tidal wave of satellite capacity
Posted:
21 October 2022
by Jason Rainbow --October
20, 2022
Terry Bleakley, regional
vice president of Asia Pacific for Intelsat, discussed the industry's
supply and demand expectations Oct. 18 during APSCC 2022. Credit
APSCC Webcast
TAMPA, Fla. -- Satellite operators in
Asia are banking on soaring demand for connecting plane passengers and
other customers on the move to absorb an exponentially increasing supply
of capacity in the region.
More integration between satellite and
mobile network operators will also create new opportunities for putting
this anticipated glut of supply to work, executives said Oct. 18 during
the APSCC 2022 Satellite Conference and Exhibition in Seoul, South.
Korea.
Northern Sky Research expects global
capacity supply to soar from about 39 terabits per second (Tbps) today
to 172 Tbps by 2030.
More than 61 Tbps of this satellite
capacity is on track to cover Asia by 2030, according to Jose Rosario,
research director at Northern Sky Research.
We have lost
contact with these members below. If you have any information on
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Mildred Coover John Crispin
Lydia Esguerra Fred Foldvary Roy Lee Huffman
Jethro Shedrick
SES to appeal
Intelsat C-band sharing decision
Posted:
18 October 2022
by Jason Rainbow --October
17, 2022
Intelsat plans a
multi-layered strategy post-restructuring to tailor connectivity
services to diverse markets. Credit Intelsat
TAMPA, Fla. -- SES filed plans Oct. 14 to
appeal a court's decision last month that disallowed its bid to equally
split nearly $9 billino of anticipated C-band clearning proceeds with
Interlsat.
SES will ask the U.S. District Court for
the Eastern District of Virginia to review the decision, which the U.S.
Bankruptcy Court for the Eastern District of Virginia made Sept. 30
after more than two years of legal action.
The satellite operator brought a $1.8
billion claim to the bankrupcty court in July 2020, two months after
Intelsat filed for Chaptl get for clearing C-band spectrum for
terrestrial telcos.er 11, over a broken agreement to split proceeds they
would get for clearing C-band spectrum for terrestrial telcos.
SpaceX launched a pair of four-ton Intelsat
communications spacecraft from Cape Canaveral at twilight Saturday
evening, two days later than planned after back-to-back scrubs, on the
third flight of a Falcon 9 rocket this week.
The Falcon 9 rocket lit nine kerosene-fueled Merlin 1D
engines and thundered away from Cape Canaveral Space Force Station at
7:05 p.m. EDT (2305 GMT) Saturday. Thrust vector controls pivoted nine
main engines to steer the 229-foot-tall (70-meter) rocket due east from
pad 40, and the Falcon 9 raced through the speed of sound in less than a
minute.
Click
HERE
for
further details from
Spaceflight Now.
SES
loses Intelsat claim
Posted:
4 October 2022
October 3, 2022 | By Chris Forrester
A Virginia bankruptcy court has ruled
("disallowed") the action by SES against Intelsat for a 50 per cent
share of the FCC's C-band incentive payments. The Court has
allowed SES to appeal the decision it it so wishes.
SES says it is disappointed with the
ruling "it is reviewing with outside counsel its options to appeal,"
says a statement.
Click
HERE
for
further details from
Advanced Television
Intelsat Class
Action could continue
Posted:
30
September 2022
September 28, 2022
By Chris Forrester
On September 28th, we reported that a California judge cleared
Intelsat's pre-bankruptcy major shareholders of a Class Action insider
trading allegations. Our report was accurate, but Judge Jeffrey
White, from the US District Court for the Northern District of
California, left a potential sting in the tail of his ruling.
The judge said that while the Action failed to describe the level of
intention needed for an inside trading claim, the would-be Action
plaintiffs may re-plead their claims and allegations. The court
noted, among other things, that the confidential witnesses do not point
to any communications between CEO Steve Spengler and the Board on
November 5th. The court concluded that plaintiffs failed to
sufficiently allege that the defendants possessed material non-public
information and they they acted with scienter (intent or knowledge of
wrong doing).
A California court cleared
Intelsat's pre-bankruptcy major shareholders of insider trading
allegations on September 27th.
The action started in late 2019
with allegations over violations of the federal securities laws.
The lawsuit alleges that the named defendants violated the Exchange Act
by selling Intelsat shares while they were in possession of material
non-public information, including that Intelsat SA had met with the FCC
on November 5th 2019, to discuss the private sale of certain frequencies
controlled by Intelsat SA for future 5G use (the 'C-Band')
Viasat,
Inmarsat, get UK merger approval
Posted:
18 September 2022
September 16, 2022 | By Chris Forrester
Viasat and
Inmarsat have received the UK government’s approval for their proposed
merger.
The UK’s
Secretary of State for Business, Energy and Industrial Strategy (BEIS)
has announced that the transaction does not pose a risk to the UK’s
national security.
In March 2022,
the companies committed to economic undertakings with BEIS, which
underlined their pledge to strengthen and advance the UK’s National
Space Strategy. The economic undertakings include an expansion in the
number of highly skilled jobs in key areas and a 30 per cent increase in
overall research and development spending in the UK.
Click
HERE
for
further details from
Business Standard.
Intelsat
promises transformation
Posted: 15 September
2022
September 15, 2022 | By Chris Forresterr
Intelsat’s
new CEO David Wajsgras spoke to delegates at the
Euroconsult Paris World Satellite Business Week and said that Intelsat
was looking at transformation on multiple levels.
Intelsat is
now fully emerged from bankruptcy although also surrounded by rumours
that there could be a merger with arch-rival SES.
Wajsgras
joined Intelsat in April. He told delegates: “The way the industry looks
today with the core players may or may not look the same in the next
couple of years. We’re thinking
through at Intelsat what’s the best path forward for us and we’re
considering various types of opportunities that will help support our
growth path. I’m sure I’m not
the only one.”
Steven Serajeddini, a
partner in giant US law firm Kirkland & Ellis, which represented
Intelsat during its Chapter 11 restructuring, has explained to
LevFin Insights how, as debtors’ counsel, they overcame many of the
challenges faced by Intelsat during the process. He said that key to
the settlement was consensus although it took “two hard-fought
years” to get the result.
Admitting that it took “blood,
sweat and tears” to achieve agreement, full consensus only came
about at the 11th hour.
Serajeddini said: “Folks are going to remember [the bankruptcy] for
a long time. Part of it obviously is the size of the matter. It’s
one of the largest filings of the past couple of years, and in
addition to that, it had unique complexity in terms of how it
started, which was a company whose greatest source of value rested
in the hands of how the FCC would approach monetisation of its
C-Band [spectrum].”
Intelsat wins $150m
Alaskan contract
Posted:
15 September 2022
September 9, 2022 | By Chris Forrester
Alaskan
service provider GCI has signed a $150 million contract with Intelsat to
expand telecoms capacity in rural areas of the US state.
GCI is
already very experienced in providing satellite-based services. It has
delivered geosynchronous (GEO) satellite-based connectivity for 35 years
to provide data, video and voice services in the state. The new deal not
only provides GCI with continued access to C-band and Ku-band capacity,
which is already part of GCI’s satellite service portfolio, but it also
provides new access to statewide Ka-band capacity.
Intelsat
says it will supply a multi-satellite solution over a new and enhanced
managed earth station platform and a tri-band (C, Ku and Ka) network
that will cover the entire state of Alaska.
Click
HERE
for
further details from
Advanced Television
Welcome New
Members
Posted:28
August 2022
We are pleased to Welcome the following new members
to the Intelsat
Retirees and Alumni Association:
August
2022
Maria-Marta Andrade
Aissatou Bah
Junie Nathani
Devas Multimedia seizes $87,457 cash in
US in Antrix Corporation dispute
Posted:
18 August 2022
Devas Multimedia has seized USD 87,457.47 cash that
ISRO's commercial arm Antrix Corporation held in the US as it looked to
enforce a USD 1.2 billion compensation it had won over a cancelled
satellite deal, its lawyer said on Wednesday.
Devas Multimedia America Inc had sought seizure of USD
145,000 but the actual recovery was USD 87,457.47 (a little less than Rs
70 lakh). This came after it secured a favourable order from the Eastern
District Court of Virginia, Matthew D McGrill said.
Click
HERE
for
further details from
Business Standard.
Intelsat,
One-Web IFC Deal
Posted: 16 August
2022
August 12, 2022
By Chris Forrester
Intelsat and
OneWeb have signed a “global distribution” partnership, an initiative to
provide a global service for In Flight Communications and broadband to
aircraft.
Intelsat already has
considerable skin in the game because it bought in 2020 the commercial
aviation connectivity business from Gogo for what many have seen as
being a timely ‘bargain’ of $400 million (€388m). Gogo is still very
much active but now concentrates only on business aviation and private
jets.
Satellites maker
SES beats profit estimates, sees upside to market consolidation
Posted: 4 August
2022
The Financial Times reported on Thursday SES was in talks to merge with
its U.S. rival Intelsat SA, signaling consolidation in the rapidly
changing industry.
Reuters August 04, 2022, 13:24 IST
By Dina Kartit and Elena Vardon
Satellite company SES's CEO reiterated on Thursday he saw industry
consolidation as a good thing for the highly competitive market, but
would not comment on merger rumours after the group posted
stronger-than-expected half-year earnings.
Te Financial Times reported on Thursday SES was in talks to merge
with its U.S. rival Intelsat SA, signally consolidation in the
rapidly changing and competitive industry.
"We've talked on this call and on analyst calls about industry
consolidation and how that is...from my perspective at least, a good
thing for the industry, but we obviously don't comment on any market
rumours or speculation," Chief Executive Stevbe Collar told
reporters in an earnings call.
SES and Intelsat
are reportedly in talks about a possible combination, says the
Financial Times.
The two satellite
giants are in active discussions about the structure of any potential
deal, according to three people familiar with the matter, says the FT,
as a wave mergers and acquisitions sweeps aceross the satellite
industry. "Neither wants to be the last one standing," said one
person close to the matter.
Eutelsat and
OneWeb to combine: a leap forward in Satellite Connectivity
Posted:
2 August 2022
PRESS RELEASE -26
JULY 2022 07;01
Eutelsat and
key OneWeb shareholders
[1] sign a Memorandum of Understanding with a view to combining
Eutelsat and OneWeb in an all-share transaction.
Eutelsat
shareholders and OneWeb shareholders
[2] would each hold 50% of the Eutelsat shares.
Compelling
financial profile with:
Potential
for double-digit revenue and EBITDA CAGR over the medium to
longer tyerm;
Eutelsat's strong cash flow generation providing visibility and
funding to support continued expansion into the LEO market
through OneWeb's next generation of satellites;
Over
€1.5bn potential incremental value-creation after tax (net of
implementation costs) stemming from revenue, capex and costsynergies.
Balanced board and governance structure, to include Eutelsat’s
Chairman and its CEO, OneWeb’s Chairman, and a significant number of
independent directors proposed by Eutelsat and OneWeb’s
shareholders, at Extraordinary General Meeting.
Fully backed by a strong set of strategic
shareholders of both entities, including Bpifrance and Fonds
Stratégique de Participations who have undertaken to vote in favour
of the transaction-related resolutions at this EGM, subject to usual
conditions.CMA
CGM, a shareholder of Eutelsat, is also supporting the combination.
Representing a transformational transaction, built on
the strong foundations established in April 2021 with Eutelsat’s
initial investment in OneWeb, this combination creates a global
leader uniquely positioned to capture the Connectivity market with
complementary GEO/LEO[3]offering.
Combined entity strongly positioned to address the fast-growing
global Connectivity market..
The transaction
values OneWeb at $34.4bn implying a value of
€12 per Eutelsat share (including the dividend,
before synergies).
Eutelsat to propose a €0.93 per share dividend with a
scrip option in respect of FY 2021-22 at its upcoming AGM. Such
dividend will not impact the exchange ratio.
Eutelsat will continue to be listed on Euronext Paris
and apply for admission to standard listing on the London Stock
Exchange.
The EU has
firmly ruled out the proposed Eutelsat/OneWeb merger as qualifying as
the likely candidate for the EU's own planned Low Earth Orbiting (LEO)
broadband constellaton.
As reported by
Sami Kassab, satellite analyst at investmnet back Exane/BNPP,
Christopher Grudier, the member of the European Parliament in charge of
the EU's LEO satellite project announced that "a rapprochement of OneWeb
with the Europeransat constellation seems impossible". He claimed
that "the EU cannot accept a UK veto on a secure connectivity
infrastructure". He argued that "the European Union needs to have
full control over its satellites without a risk of hindrance by an
outside actor." Adding "Europe will not compromise on this point".
Grudier is
referring to the golden share the UK Government has in OneWeb, and which
Eutelsat says would remain in place once the 'merger' with OneWeb goes
ahead. The 'golden share' has teh ability to block the sale of
OneWeb capacity to undesired countries.
We have lost
contact with these members below. If you have any information on
how to contact them, please send us an EMail at:
info@myiraa.comm
Mildred Coover John Crispin
Lydia Esguerra Fred Foldvary Roy Lee Huffman
Jethro Shedrick
Eutelsat+OneWeb: "Disappointing valuation" says bank
Posted:
27 July 2022
Investment bank
Exane/BNPP, in a comprehensive report on the proposed merger between
satellite operator Eutelsat and Low Earth Orbit constellation OneWeb,
says the "increase in interest rates, inflation, the war in Ukraine, [OneWeb]
Gen2 funding requirements all suggest a bit of patience could have
improved the financial outcome for minority shareholders...but the new
EU space policy apparently has precedence".
Analyst Sami
Kassab, author of the report, says the bank believes the timing of this
deal has to be seen first and foremost in the context of the new
European space policy and of the French government's geopolitical
agenda. Nevertheless, he describes the merger as "profoundly
changing the economic model of Eutelsat".
Eutelsat,OneWeb
to merge;Bharti to be single largest shareholder
Posted:
26 July
2022
Eutelsat and OneWeb Ltd are set to combine in an
all-share deal valuing the UK satellite operator at $3.4 bn, a step
toward creating a European champion to rival the likes of Elon Musk's
SpaceX
Topics
Press Trust of India | New Delhi
Last Updated at July 26, 2022 22:04 IST
French satellite operator Eutelsat and key shareholders
of Bharti-backed OneWeb have inked a pact for merger, entailing
all-share transacton, a statement said on Tuesday.
Post closing of the deal, Bharti Group will be the single
largest shareholder of Eutelsat.
The transactionj values OneWeb at USD 3.4 billion (over
Rs 27,000 crore),according to a joint statement.
Eutelsat willo combine its strong fleet of 36
Geostationary Orbit (GEO) satellites with OneWeb's constellation of 648
Low Earth Orbit satellites, of which 428 are currently in orbit.
The announcement has a takeaway from the India market as
well, where OneWeb had received the letter of intent for the GMPCS
(Global Mobile Personal Communication by Satellite) licence from the
Department of Telecom.
Click
HEREfor
further details from
Business Standard.
Welcome New
Member
Posted:18
July 2022
We are pleased to Welcome the following new member
to the Intelsat
Retirees and Alumni Association:
July
2022 Hubert Keel
Bank:
SES/Intelsat merger worthwhile?
Posted:
28 June
2022
Equity analysts at Credit Suisse
have asked a key question in a fresh report and pondering whether a
merger between the world’s two biggest satellites operators, SES and
Intelsat, both based in Luxembourg, would pan out.
Their answer is a simple: you bet it would.
The bank’s report (European
Satellite: Scaling Up) suggests that there would be a 30 per cent uplift
to the overall equity value of the rivals and make complete sense.
Analyst Ben Lyons sums up the benefits saying that the theoretical
proposal could make industrial sense as both the operators have global
reach with more potential synergies, and both are pursuing Medium-Earth
Orbit (MEO) strategies.
A new report from Credit Suisse
explores possibilities for consolidation among the largest companies in
the satellite sector, estimating that in the event that SES and Intelsat merged,
it could provide more than 30% uplift to the equity value. Credit Suisse
shared the report, “European Satellite: Scaling Up” with Via
Satellite.
Ben Lyons, a satellite equity
analyst at Credit Suisse said in the report that an SES/Intelsat merger
“would make economic sense.” He says Credit Suisse believes
theoretically it could make industrial sense to combine SES and
Intelsat, as both have global reach with more potential synergies, and
are pursuing Medium-Earth Orbit (MEO) strategies.
“On our scenario analysis, a
potential combination could generate synergies with an NPV [net present
value] of $2.6 billion and, if SES captures half of those synergies,
that would imply a roughly more than 30% uplift to the equity value. We
believe consolidation for SES is more straightforward economically
speaking as the OneWeb stake
makes consolidation more complex, but not impossible, for Eutelsat,”
he says.
Intelsat looks
to wrap bankruptcy claims
Posted:
20 June 2022
June 17, 2022
Lawyers for
Intelsat's bankruptcy filed a motion to the satellite operator's
bankruptcy court saying that they will b e apply for a 'Final Decree' on
or before June 29th. The doucmnet recognises that there may be
other matteres and claims still outstanding after that date.
Intelsat's Fourth
Chapter 11 Plan of Reorganisation was filed back on December 17th 2021
and subsequently accepted by the court with Intelsat emerging from its
Chapter 11 rteorganisation on Frebruary 23rd 2022.
Intelsat
serving 10,000 vessles
Posted: 10 June 2022
June 10, 2022
By Chris Forrester
Intelsat is now serving more than 10,000 vessels
with its Flexmartime Service.
Intelsat says it has more than 2,000 of its terminals in key martime
markets since November 2021, that includemerchant shipping, fishing,
leisure and offshore energy.
Launched in 2017, FlexMaritime is powered by a globel, multi-layered,
high-throughut satellite (HTS) network capable of deliver high density
bandwidth and extremely high levels of service flexibility and
reliability.
Click
HERE
for
further details from
DEuropean Union
Welcome New
Members
Posted:16
May 2022
We are pleased to Welcome the following new members
to the Intelsat
Retirees and Alumni Association:
May
2022
Angela Maimo Daniel Stefanita
Help Us Find These Members
Posted:
22
April 2022
We have lost
contact with these members below. If you have any information on
how to contact them, please send us an EMail at:
info@myiraa.comm
John Crispin Lydia Esguerra
Roy Lee Huffman
Welcome New
Member
Posted: 6 April 2022
We are pleased to Welcome the following new member
to the Intelsat
Retirees and Alumni Association:
April 2022
Raj Mehta
David Wajsgras to Become Intelsat CEO
Posted:
7 March 2022
McLean, Va. – Intelsat, operator of the world’s
largest integrated satellite and terrestrial network, has tapped David
Wajsgras, as its next chief executive officer (CEO). Effective April 4,
Wajsgras succeeds Stephen Spengler, who announced his planned retirement
in Oct. 2021.
Wajsgras has two decades of experience at the senior
executive management level, providing operational, strategic and
financial leadership in both the commercial and defense industries. He
most recently served as president of the global, $7.5-billion,
advanced-technology Intelligence, Information and Services (IIS)
business at the former Raytheon Company, now part of Raytheon
Technologies (NYSE: RTX). Before joining Raytheon as chief financial
officer, Wajsgras was executive vice president and chief financial
officer at Lear Corporation (NYSE: LEA) and held other key operations
and leadership roles.
“Dave Wajsgras is a results-oriented leader with a
great track record of performance throughout his career,” said Lisa
Hammitt, chairperson of the Intelsat Board of Directors. “He develops
talent and builds teams, thinks and acts strategically, and engages
positively with customers and other stakeholders to the benefit of the
business. Dave is just the right person to lead Intelsat at this
important time.”
Microsoft Does
Private Wireless with Intelsat; updates Azure Cloud for AT&T
Posted:
28 February 2022
By Linda Hardesty
- Feb 28, 2022 01:53pm
Microsoft had a couple of telecom announcements to insert itself into
the conversations this week around MWC 2022 in Barcelona.
Microsoft said it worked with Intelsat to demonstrate a private wireless
netowork.. Intelsat provided its integrated satellite and terrestrial
networks, while Microsoft contributed various Azure technologies. The
demonstration was held at Intelsat’s office in McLean, Virginia. It
established a reference architecture for deploying private LTE and 5G
networks over satellite to enterprise locations around the world.
The demonstration
was held at Intelsat's office in McLean, Virginia. It established
a reference architecture for deploying private LTE and 5G networks over
satellite to enterprise locations around the world.
For the
demonstration, the two companies created a private LTE service using
Azure Private 5G Core deployed on an Azure Stack Edge device.
Connectivity to the internet and Azure services was enabled by
Intelsat's FlexEnterprise, which is the company's satellite-based global
connectivity service.
Intelsat
Collaborates with Microsoft to Demonstrate Private
Cellular Network Using Intelsat's Global Satellite and Ground Network
Posted:
27 February 2022
McLean, Va., and Redmond, Wash. – Intelsat, operator of one of the
world’s largest and most advanced integrated satellite and terrestrial
networks, today announced the successful demonstration of a first of its
kind private cellular network with Microsoft Azure Private Multi-Access
Edge Compute and FlexEnterprise, Intelsat’s satellite-based global
connectivity service.
Held at Intelsat’s office in McLean, VA, the demonstration
successfully establishes a reference architecture for deploying secure,
high-performance private LTE and 5G networks and other cloud services
over satellite networks to enterprise locations virtually anywhere
globally, including those in remote and austere environments.
The demonstration creates a private LTE service using Azure Private
5G Core deployed on an Azure Stack Edge device. Connectivity to the
internet and Azure services is enabled by Intelsat’s FlexEnterprise. Via
the private cellular network, users can access local enterprise
resources via SIM-authenticated connections to the Azure Stack Edge and
access remote resources through the FlexEnterprise connection, the
IntelsatOne global network and Azure. Additionally, the LTE network
powers a Wi-Fi access point and IoT applications. “As enterprises look
to private cellular networks to improve the reach, security, and
quality-of-service over Wi-Fi-only local networks, the ability to
support deployments at any site is crucial to creating a fully connected
organization,” said Jean-Philippe Gillet, SVP Global Sales Media &
Networks, Intelsat. “The applications demonstrated here with Microsoft
highlight the increased automation and standardization of enterprise
data processing services that globally-available private cellular
networks will enable. Support for high-bandwidth, low-latency networks
is central to Intelsat’s vision of an end-to-end ecosystem for a global
software-defined 5G network.”
Intelsat wipes
out 9.5bn debit as it emerges from bankruptcy
Posted:
25 February 2022
Alan Burkitt-Gray February
24, 2022 07:54 AM
Satellite
operator Intelsat has emerged from bankruptcy with its debt cut from
US$16 billion to $7 billion, and with $6.7 billion in new finance.
The move comes 21 months after the company - with a
history that dates back more than 60 years - went into
Chapter 11 protection under US bankruptcy laws.
The biggest new shareholder, with 32.8%, is Pacific
Investment Management Company (Pimco), whose ultimate
parent, according to the Federal Communications
Commission (FCC), is Allianz SE, a Munich financial
services company.
Shares in the
new Intelsat – which is registered in Luxembourg – will
be traded on the over-the-counter (OTC) market.
The new
shareholders have put in place a new board of directors,
chaired by Lisa Hammitt (pictured) and including CEO
Stephen Spengler.
We are pleased to Welcome the following new member
to the Intelsat
Retirees and Alumni Association:
December
2021
Muneo Abe
Notification of
Intention to Acquire Intelsat by Allianz SE
Posted: 7 January 2022
Below found on the European Union
website by a member:
1. On 21 December 2021, the Commission
received notification of a proposed concentration pursuant
to Article 4 and following a referral pursuant to Article 4(5) of
Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:
—
Allianz SE (‘Allianz’, GERMANY),
—
Intelsat Holdings
S.A. (‘Intelsat’, USA)
Allianz acquires
within the meaning of Article 3(1)(b) of the Merger Regulation sole
control of the whole of Intelsat
The concentration
is accomplished by way of purchase of shares.
2.
The business activities of the undertakings concerned are:
—
for Allianz: Allianz
is the ultimate parent of the Allianz group, a global
financial services company active predominantly in relation
to life and non-life insurance and asset management,
—
for Intelsat:
operation of satellite networks, ground networks and
connectivity infrastructure and provision of diversified
communications services to customers such as
telecommunications operators, media companies, and internet
service providers. Intelsat uses its satellites as relay
stations in space for the transmission of voice, video, and
data communications.
Click
HERE
for
further details from
DEuropean Union
Intelsat
Achieves Confirmation of Plan of Reorganization, Final Court
Milestone in Financial Restructuring Process
Posted: 16 December
2021
Fully Consensual Plan Will Reduce Debt by More Than Half and Position
Company for Long-Term Success
Early 2022 Emergence Expected as Company Builds World’s First Global 5G
Satellite-Based, Software-Defined, Unified Network
Commitments Obtained for Nearly $8 Billion in Exit Financing
MCLEAN, VA -- December 16, 2021
-- Intelsat S.A. (OTC: INTEQ) announced today that the U.S.
Bankruptcy Court for the Eastern District of Virginia, Richmond
Division, has approved its Plan of Reorganization, marking the final
Court milestone in the Company's financial restructuring process.
Intelsat is poised to emerge from the process in early 2022 upon receipt
of regulatory approvals, completion of certain corporate actions, and
satisfaction of other customary conditions.
The confirmed Plan will reduce
Intelsat's debt by more than half -- from approximately $16 billion to
$7 billion -- and position the Company for long-term success as it
innovates and brings new services to market. The Plan was
supported by all creditor groups across Intelsat's capital structure
following extensive negotiations and the ultimate consensual resolution
of a multitude of complex issues.
Intelsat formal
hearings commence
Posted: 7 December
2021
Judge Keith L. Phillips opened
the formal hearings into Intelsat’s Chapter 11 exit plan. The process is
scheduled to last about 10 days. Around 216 lawyers and observers
attended the Zoom meeting for sessions which were described as
“complex”.
The court was told that more
than 90 percent of claimants against the various Intelsat entities had
accepted the terms of the exit plan and bankruptcy reconstruction. The
complexity was largely because of the many different Intelsat businesses
as well as those Intelsat entities which traded from Luxembourg.
After almost seven years as CEO and more than 18 years
at Intelsat,
CEO Steve Spengler plans to retire once the company completes Chapter 11
financial restructuring and selects a successor. Intelsat announced the
change Thursday morning, and said Spengler will lead the company until
then.
The Intelsat news came as a surprise before the stock
market opened on Thursday. Its stock closed 36% up on Thursday, and was
up 81.82% after the announcement.
A
senior Intelsat official told Via
Satellite that
they were not aware of Spengler’s retirement plans until the
announcement was made.
This was confirmed by another Intelsat official directly
involved with the company’s strategic planning, who told Via
Satellite, “It was a surprise to me. I think it was for people
above me in the chain of command.”
The strategy official added that Spengler has not made
direct contact with their team. “He sent us an email. Basically [it was]
the same as the press release.”
Click
HERE
for
further details from
Satellite Today
Betting on flexibility: Intelsat's
post-bankruptcy growth strategy
Posted:
18 October 2021
SpaceNews
spoke with Samer Halawi, Intelsat’s executive vice president and
chief commercial officer, to learn more about the satellite giant’s
post-restructuring growth strategy.
Intelsat is devising a transformational business plan for
after it emerges from bankruptcy restructuring later this year,
including a big bet on software-defined satellites and potentially its
own low-Earth-orbit broadband constellation.
The operator, which has been in
Chapter 11 bankruptcy protection for nearly a year and a half, issued a
request for proposals (RFP) at the end of July for 10 satellites that
could be reconfigured in-orbit for changing mission needs.
Intelsat "steals
billions" Claims SES
Posted 13 October 2021
Last week it was an Intelsat motion to its bankruptcy court that accused
SES of being “on a warpath” as far as its allegations over SES claims
concerning how the FCC’s C-band incentive payments were concerned.
SES responded on October 11th with a detailed rebuttal saying it had
proposed “numerous compromises” to Intelsat and asked the bankruptcy
court to permit SES to take four depositions from Intelsat witnesses
“who have personal knowledge highly relevant to SES’s objections”.
Intelsat: "SES
on a Warpath"
Posted
8 October 2021
The long-running
legal dispute between SES and Intelsat over the division of the FCC’s
‘incentive’ payments regarding the C-Band Alliance has provoked another
tough response from Intelsat’s lawyers.
A filing into
Intelsat’s bankruptcy court on October 6 states that “SES has been on a
warpath in this proceeding” and had spent millions of dollars “and
imposing every burden it can think of in an effort to disrupt the
restructuring of its chief competitor”.
We are pleased to Welcome the following new member
to the Intelsat
Retirees and Alumni Association:
September
2021 Ellen Brager George Giagtzolou
Tony Trujillo
SES vs Intelsat Trial Delayed
Posted:
17 September 2021
The SES claim against Intelsat for a potential
$1.8 billion has been postponed.
Judge Keith Phillips, who is overseeing
Intelsat’s Chapter 11 bankruptcy reconstruction, had earlier
confirmed that the trial date for the SES vs Intelsat dispute
over FCC payment allocations would start on September 20th. A
new date has not – as yet – been circulated.
SES Accuses Intelsat of 'siphoning'
Billions
Posted:
1 September 2021
It has long been a complaint from SES that
Intelsat, in its complex Chapter 11 bankruptcy, is using
associate and sister businesses to shift incoming cash (and in
particular the so-called incentive payments from the FCC over
the C-band reallocation of spectrum). SES describes the Intelsat
action as playing a “shell game” and that Intelsat is using
sleight of hand in how it proposes allocating the FCC’s
incentive payments.
The matter was raised again in a motion to
Intelsat’s bankruptcy court on August 30th where SES again
objected to the risk of Intelsat “siphoning billions of dollars
from the Debtors’ principal operating entity, Intelsat US, and
disadvantage SES, their main competitor and one of Intelsat US’s
largest creditors.”
SES Demands
Trial on It's $1.8bn Claim
Posted:
27 August 2021
On September 1st
the Intelsat bankruptcy court is scheduled to hold a pre-trial hearing
on the SES claim for a greater share of the FCC’s incentive payments due
from the C-band clearing process and auction. SES, in a filing to the
court on August 25th, is asking that the actual trial scheduled for
September 20th be started on that date and not further adjourned or
postponed.
SES suggests that
a trial over Zoom could ease challenges for all concerned and save case
witnesses from both sides having to travel to Richmond, Virginia along
with “hundreds of people” including lawyers and other experts involved
with commensurate financial savings. A fixed date and remote Zoom
hearing “Would give the parties some certainty; given the unpredictable
trajectory of the Covid-19 pandemic and its effect on in-person
proceedings, there is no guarantee that an adjournment would make it
possible to proceed in person anytime in the near future.”
Intelsat
Achieves Support of Nearly 75% of Funded Debt on Comprehensive Financial
Restructuring
Posted:
25 August 2021
Key Creditor Groups Agree to Vote in Favor of Amended
Plan of Reorganization
Path to Emergence by End of 2021, with Company's Debt
Reduced by More Than Half
MCLEAN, VA - August 24, 2021 -
Intelsat S.A. (OTC: INTEQ), operator of the world's largest and most
advanced integrated satellite and terrestrial network, today announced
that it has achieved the support of key creditor groups across the
capital structure on the terms of a comprehensive financial
restructuring that would reduce the Company's debt by more than half -
from nearly $15 billion to $7 billion - and position the Company for
long-term success.
The Company has filed an Amended
Plan of Reorganization in its Chapter 11 proceedings pending before the
U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond
Division, accompanied by an explanatory Disclosure Statement. The
Amended Plan has the support of holders of approximately $11 billion, or
nearly 75% of the Company's funded debt. These supporting
creditors have executed a Plan Support Agreement that binds their
support for the Company's Amended Plan.
The Company is seeking Court
approval of the Disclosure Statement and to establish procedures to
solicit votes on the Amended Plan at a hearing scheduled for September
1, 2021.
We are pleased to Welcome the following new members
to the Intelsat
Retirees and Alumni Association:
August
2021 Lawrence (Larry) Brown Michael
J. Brown Yao Gao Michael
Goldstein AnaMaria Puch
Vince Walisko
SES vs Intelsat
hearings: Public barred
Posted:
20 August
2021
The August 19th application by
Intelsat and SES to have much of their court arguments heard privately
was granted by Intelsat’s Chapter 11 bankruptcy Judge.
Despite a strong case submitted
by the US Trustee, who argued that the two litigants were seeking to
close the courthouse door during their submissions and that the public
had a right to know what was being presented to the court, Judge Keith
Phillips ruled that the elements of the SES and Intelsat submissions –
whether confidential or not – could remain ‘sealed’ and with the court
proceedings only available (and viewable on Zoom) to approved lawyers
for the parties involved.
Click
HERE
for
further details from
Advanced Television
Musk's Space
Push Forces Satellite Rivals into Merger Mode
Posted:
20 August
2021
(Bloomberg) -- Plans by Elon Musk and Jeff Bezos to
launch thousands of satellites into orbit are forcing an industry that’s
traditionally wary of mergers to prepare for consolidation. The
billions of dollars that Musk is pouring into his Starlink broadband
internet service are skewing the economics of space for companies like
SES SA, the world’s second-biggest satellite operator by sales. The
growth of streaming over fiber optics threatens another of their
mainstays -- satellite TV.
Takeovers, investments and joint ventures in the industry
this year have already surpassed 2020, with more than $3.6 billion spent
on them so far in 2021, according to data compiled by Bloomberg.
TAMPA, Fla. — SES is asking Intelsat’s bankruptcy court for a speedier
summary judgment on the satellite operators’ C-band dispute instead of a
full trial.
The company said
in a June 16 court filing that it had already submitted enough evidence
for a ruling in its favor over Intelsat’s withdrawal from their C-Band
Alliance, where it said the competitors agreed to split proceeds from
clearing the spectrum evenly.
This includes
emails and text messages among senior Intelsat executives that SES says
support its case.
SES said in the
filing that Intelsat wrongfully seeks to keep a $421 million chunk of
the C-band proceeds from the company as a result.
Satellite
operators are in line for $9.7 billion in total from the Federal
Communications Commission (FCC) for clearing 300MHz of C-band, provided
they meet deadlines for making it available for wireless 5G operators.
Intelsat and SES
hold the largest share of the 500 MHz C-band in the U.S. and will get
$4.9 billion and $3.97 billion, respectively, under the FCC’s plan.
Intelsat's Q1 earnings down
50% year over year despite higher revenue due to Gogo acquisition
COVID-19 drags down SES Q1
revenue; operator says video decline is slowing
Intelsat and SES C-ban legal
battle rages on
TAMPA, Fla. — Satellite operators Intelsat and SES say they are on track
to meet a key C-band spectrum clearing deadline this year, despite
ongoing COVID-19 disruption.
The pandemic has been slowing supply chains for delivering upgrades and
filters needed to clear the frequencies for terrestrial 5G wireless
operators — and limiting access to sites to install them.
But Intelsat and SES, which hold the lion’s share of C-band in the
United States and will get around $9 billion combined if they clear
their part of the 300 megahertz of auctioned spectrum in time, said
during financial results they are on track for the first big deadline
Dec. 5.
That is when a portion of the spectrum currently being used to provide
TV and radio to nearly 120 million U.S. homes must be available for 5G
mobile.
Intelsat and SES will get $1.2 billion and $1 billion, respectively, if
they meet the Dec. 5 deadline for clearing the first 120 megahertz of
C-band the U.S. Federal Communications Commission began auctioning off
late last year.
We have lost
contact with these members below. If you have any information on
how to contact them, please send us an EMail at:
info@myiraa.comm
Mike Brown John Crispin Lee Huffman
Intelsat's
Chapter 11 Exit Plan Falters
Posted:
12 April
2021
Intelsat is
asking its Chapter 11 bankruptcy court for more time to deliver its exit
plan from bankruptcy.
A hearing
scheduled for April 14th will see Judge Phillips asked for more time.
Intelsat says the additional time is necessary to ensure that it
maintains control of its case, which is particularly complicated because
of the dozens of subsidiary and sister businesses under various Intelsat
names all of which are affected by the bankruptcy.
Click
HERE
for
further details from
Advanced Television
Welcome New
Members
Posted: March 27, 2021
We are pleased to Welcome the following new members to the Intelsat
Retirees and Alumni Association:
February
2021
Phil Spector
March
2021
Tokuo Oishi Benjamin Smith
Intelsat Court
Hearing on March 17
Posted:
9 March 2021
Intelsat’s Chapter 11 bankruptcy court will hold an
omnibus hearing on March 17th.
The remote video hearing will see Judge Philips hear a
number of motions. Three important items listed for hearing are the
application by Intelsat’s lawyers for the court to approve Intelsat’s
request for an “Expedited” process for its exit plan from bankruptcy.
Click
HERE
for
further details from
Advanced Television
Inaugural
Congress of the Global Alliance for International Collaboration in Space
(GALIX)
Posted: 23 February 2021
You are
cordially invited to register for the Global Alliance for
International Space Collaboration (GALIX) Congress on March 18-19.
(10:00am-12:30pm EDT and 15:00-17:30 pm CET) This global forum
features many key space leaders from around the world including NASA
Chief Scientist James Green, Niklas Hedman of the UN OOSA, Michelle
Hanlon of For All Moonkind, Juan De Dalmau President of the
Internat’l Space Univ., Lucy Stojak of the Canadian Space Council,
Alicia Woodly of Axiom, J-J Tortora of the European Space Policy
Institute, Su-Yin Tan of the Univ. of Waterloo, Canada, Dr. Kai-Uwe
Shrogl of ESA/DLR, and many other notables listed in the Program at GALIX.net.
Please go
to https://www.galix.netand
click on registration page. Notice of the Zoom Address will be sent
to you in coming days. The Purpose of GALIX is to expand
international collaboration in space and to enhance space policy,
financial opportunity, education and training, and regulation to
this end of global partnership. Some fifteen organizations are
working in collaboration on this global initiative. Registration is
on a first come and first serve basis and a Zoom address for this
event will be provided to you in coming days after you are
registered.
Joseph N. Pelton, Chairman of the Board of GALIX, Dean Emeritus,
International Space University, Founder of the Arthur C. Clarke
Foundation, Founding President of the SSPI, Member of the
International Academy of Astronautics
Chairman of
Embattled Satellite Operator Accused of Insider Trading
Posted:
18 January 2021
The chairman of satellite operator Intelsat is
being sued for insider trading in an explosive new shareholder
lawsuit that also dings private-equity giants BC Partners and
Silver Lake Partners, a New York Knicks shareholder.
The Oakland, Calif., federal court lawsuit claims
that David McGlade, Intelsat’s chairman and former CEO, sold
stock in the satellite operator on Nov. 5, 2019 — mere hours
after the company’s CEO learned that the Federal Communications
Commission was leaning against a proposal that would have earned
the company billions.
McGlade made the trade — together with fellow
Intelsat insiders Silver Lake and BC Partners — via a $246
million block sale of 10 million shares, the lawsuit says. Weeks
later, on Nov. 18, the FCC rejected Intelsat’s proposal to run
the sale of government-owned airwaves it had been using for TV
and radio communications — squashing its dreams of a $7
billion-plus windfall. By May, the company had filed for
bankruptcy protection. The stock, which had been trading at
around $23 a share ahead of the insider selling, closed Friday
at 72 cents a share..
The Board of
Directors and Volunteers of the Intelsat Retirees and Alumni Association
wish you peace, joy and good health during your holidays celebrated and a
Happy, Healthy and Prosperous New Year 2021 ahead!
Trial Date Set
for the SES + Intelsat Legal Dispute
Posted 7 December
2020
Intelsat’s
bankruptcy court on December 3 said the dispute
between SES
Americomand
Intelsat would go to trial next June — the news coincides with a
126-page filing to Intelsat’s court from SES that pulls no punches in
its claims.
At the heart of the legal
dispute between SES and Intelsat is an argument over Intelsat’s handling
of an alleged 50-50 agreed division within the C-Band
Alliance (CBA) and how the FCC ‘incentive’ payments over the
reallocation of both satellite operators’ C-band frequencies would be
allocated. SES is claiming $1.8 billion from Intelsat.
The FCC-organized auction over
the sale of the spectrum is now occurring.
The SES vs Intelsat legal action
kicked off with a July 14 claim lodged by SES where SES claimed damages
and which included alleged breaches of contract, fiduciary duties and
unjust enrichment. Intelsat firmly rejected the claim and, in October,
added in its own allegations that SES had “improperly
shared” a confidential report with the FCC and that the SES claims
are without merit.
We are pleased to Welcome the following new members to the Intelsat
Retirees and Alumni Association:
October
2020
Paul Tan William Wu
Welcome New
Members
Posted: September 14, 2020
We are pleased to Welcome the following new members to the Intelsat
Retirees and Alumni Association:
September
2020
James (Jimmy) Ferrara Darren Hutchinson Carmen
Nelson Sanjay Singhal Dianne VanBeber
Intelsat
to Acquire Commercial Aviation Business of Gogo
Posted: 31 August
2020
MCLEAN, Va.--(BUSINESS
WIRE)--Intelsat (OTC:
INTEQ), operator of the world’s largest and most advanced
satellite fleet and connectivity infrastructure, today announced
that it has entered into a definitive agreement to acquire the
commercial aviation business of Gogo (NASDAQ: GOGO), the largest
global provider of in-flight broadband connectivity, for $400
million in cash, subject to customary adjustments.
The transaction further propels Intelsat’s
efforts in the growing commercial in-flight connectivity market,
pairing its high-capacity global satellite and ground network
with Gogo’s installed base of more than 3,000 commercial
aircraft to redefine the connectivity experience.
Gogo’s leading commercial aviation
business provides Intelsat with key airline relationships and
customer-facing capabilities, including a leading software
platform, ISP and network management infrastructure. It
currently serves 21 commercial airlines, including 9 of the top
20 global carriers.
We have lost
contact with these members below. If you have any information on
how to contact them, please send us an EMail at:
info@myiraa.comm
John Crispin Lee Huffman
Welcome New
Members
Posted: August 27, 2020
We are pleased to Welcome the following new members to the Intelsat
Retirees and Alumni Association:
August
2020
Yvonne Graham Neni Gray Javed Hashmi Brian Henderson Van McDevitt
Vishnu Sahay
Herminia Salazar
FCC Concludes
First Mid-Band 5G Auction
Posted:
26 August 2020
By
Colin Mann | August 26, 2020
The US’s FCC has confirmed what it describes as the successful
conclusion of bidding in its auction of Priority Access Licenses in the
3550-3650 MHz band for 5G, raising some $4.5 billion, although it has
yet to name the successful bidders. The auction made available the
greatest number of spectrum licences ever in a single FCC auction.
Click
HERE
for
further details from
Advanced Television
Intelsat
Announces Successful Launch of Galaxy 30 Satellite and Northrop
Grumman's
Second Mission Extension Vehicle
Posted:
15 August
2020
McLean, Va. – August 15, 2020 – Intelsat,
operator of the world’s largest integrated satellite and terrestrial
network, announced the successful launch of Galaxy 30, a geosynchronous
communications satellite that will primarily provide high-performance
television distribution service to Intelsat’s North American customers.
Northrop Grumman’s Mission Extension Vehicle 2 (MEV-2)
was part of the same successful launch today. The Intelsat 10-02
satellite is scheduled to be its first customer in early 2021.
The Northrop Grumman-manufactured Galaxy 30 and MEV-2
launched on the Arianespace Ariane 5 rocket from the Guiana Space Center
near Kourou, French Guiana at 6:04 p.m. EDT. Galaxy 30 separated from
the rocket at 6:31 p.m. EDT, and Intelsat confirmed its signal
acquisition at 7:02 p.m. EDT.
Galaxy 30 is the first satellite in Intelsat’s Galaxy
fleet refresh plan and will replace Galaxy 14 at 125 degrees west once
it is in service in early 2021. The Intelsat Galaxy fleet is the most
reliable and efficient media content distribution system in North
America, offering customers an unmatched penetration of cable head-ends.
We are pleased to Welcome the following new members to the Intelsat
Retirees and Alumni Association:
July
2020
Patrick Drissel Luis F. Gonzalez Cecilia Lewis
Peery B. Lewis (Britt)
C-Band:
SES Wants $1.8bn from Bankrupt Intelsat
Posted:
15 July
2020
By
Chris Forrester July 15, 2020
SES Americom, the US division of the Luxemburg-based
satellite operator, is seeking $1.8 billion (€1.5bn) in damages from
Intelsat which is in bankruptcy.
SES is alleging that Intelsat has breached the contract
between the two operators which was agreed to handle the sale of C-band
frequencies over the US.
The SES filing, lodged on July 14th, argues that Intelsat
and its subsidiary entities are in violation of that contract and
related fiduciary duties related to the C-band consortium agreement.
SES seeks compensation and punitive damages. It also
wants attorney fees and other expenses in relation to arguing the C-band
claim and costs relating to litigating the claim.
Click
HERE
for
further details from
Advanced Television
Bankruptcy Court
Approves $17M Intelsat Bonus Plan
Posted: 2 July 2020
By
Rachel Jewett | July 2, 2020
A bankruptcy court has approved
Intelsat's request for an employee incentive pan worth $17 million,
despite an objection from the U.S. Trustee overseeing the cased.
The U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond
Division, approved the bonuses as part of a Key Executive Incentive Plan
(KEIP) in cour documents filed June 30. The incentives are tied to
certain targets like meeting Cband clearing deadlines.
Six executives are eligible to recieve a maximum of $17,087,561.
CEP Stephen Spengler could reeive a maximum amount of $6,974,100.
The other eligible executives are: CFO David Tolley; General
Counsel Michelle Bryan; Chief Services Officer Michael DeMarco; CCO
Samar Halawi; and Senior Vice President of Strategy and Planning Bruno
Fromont.
Acting U.S. Trustee Jon Fitzgerald III with the
U.S. Department of Justice filed an objection to the bonuses on June 23,
aruguing the plan did not set stringent enough performnce goals, and the
bonuses are not tied to cash flow and will be paid even if the debtors
sustain losses. The objection pointed to $6.9 million in retention
bonuses
pointed to $6.9 million in retention bonuses paid to Intelsat executives
shortly before the company filed for bankruptcy. CEO Stephen Spengler
received $1 million, according to SEC filings.
Intelsat Extends
Liquid Telecom Partnership Across Africa
Posted 29June
2020
Satellite network operator Intelsat
S.A. INTEQ
recently announced the extension of its partnership with Liquid Telecom
to deliver avant-garde and reliable Internet connectivity in the rural
areas of Africa by leveraging its high-throughput satellite fleet.
Markedly, the multi-year strategic agreement between the two companies
underscores Intelsat’s commitment to provide seamless broadband
connectivity for the development of educational institutions and local
businesses, thereby strengthening growth of its critical communications
infrastructure across the continent.
Backed by a unique offering of innovative digital services, Liquid
Telecom is Africa’s leading communications solutions provider that
caters to nearly 13 countries with high-speed connectivity. Further, it
offers best-in-class hosting and co-location services to various mobile
operators, enterprises and media firms. The company operates
state-of-the-art data centers in Cape Town, Johannesburg and Nairobi. It
reportedly established Africa’s largest independent fiber network,
spanning more than 70,000 kilometers. With leading cloud-based services
such as Microsoft Corporation’s MSFT Azure and Office 365, it offers a
steady communications infrastructure that prioritizes traffic within
Africa to reduce latency.
Click
HERE for
further details from Zacks Equity Research
Intelsat, SEC
Detail C-Band Transition Plans
Posted:
22 June 2020
By
Rachel Jewett | June 22, 2020
Intelsat and SES both
filed their C-band spectrum transition plans with the FCC last week on
June 19. The operators are working to meet the FCC’s accelerated
clearing timeline to clear 100 megahertz of mid-band spectrum for
commercial 5G deployment by the end of 2021, and another 180 megahertz
two years later. The operators will be eligible to receive incentive
payments, in addition to relocation costs, if they clear the spectrum on
the FCC’s timeline. Intelsat is eligible to receive $4.87 billion, and
SES is eligible to receive $3.97 billion.
Intelsat’s plan estimates
the total cost of its C-band replacement satellite portion of the
transition plan, including launch, insurance, and program management, to
be $1.18 billion.
The operator is planning for the
construction and launch of seven new satellites to create sufficient
capacity to repack services and effectuate spectrum clearing. Last
week, Intelsat announced that Maxar
Technologies will
build and deliver four satellites, and Northrop
Grumman will build and deliver two satellites. The operator is
also currently in negotiations with manufacturers for a seventh
satellite.
Intelsat
Procures New C-Band Spectrum Transition
Posted: 15 June 2020
Contracts in place with U.S. manufacturers Maxar Technologies and
Northrop Grumman
June 15, 2020
MCLEAN, Va.--(BUSINESS
WIRE)--Intelsat,
operator of the world’s largest integrated satellite and terrestrial
network, today announced that it has contracted for new satellites with
U.S. manufacturers, a necessary step to meet the accelerated C-band
spectrum clearing timelines established by the Federal Communications
Commission (FCC) earlier this year.
Intelsat has entered into two new agreements; one with Maxar
Technologies to build and deliver four satellites, and another with Northrop
Grumman to build and deliver two satellites. Intelsat is currently
in negotiations with manufacturers for a seventh satellite required to
support its C-band transition.
Later this week, Intelsat plans to file its full C-band
spectrum transition plan with the FCC in accordance with the FCC’s
revised timeline. The plan will provide additional manufacturing and
launch details for new satellites and outline the steps that Intelsat
will take to reconfigure its terrestrial-based infrastructure and to
ensure a successful transition.
Busy Bankruptcy
Court for Intesat
Posted 11 June
2020
As well as approving
a $1 billion ‘debtor
in possession’ loan, Intelsat’s bankruptcy court had an extremely busy
‘omnibus’ day on June 9th dealing with dozens of applications and
motions.
The court
approved the rate of interest that Intelsat must pay to the lenders
Credit Suisse on the $1 billion loan. Intelsat has to pay an immediate
1.5 per cent, and then an expensive 3.6 per cent (the “ticking fee”) per
month just like a taxicab fare and designed to encourage Intelsat not to
stretch the whole bankruptcy process out too long.
While the $1 billion loan grabbed the most headlines, the
court also agreed a motion that – in essence – permits the sale of
Spaceflight Industries, in which Intelsat has a $50 million loan, to
Mitsui & Co. Intelsat had made the loan to Spaceflight because it wanted
to participate in a Spaceflight subsidiary (BlackSky, which is an Earth
observation business). Intelsat still has a “right to purchase” option
in Spaceflight/BlackSky.
We are pleased to Welcome the following new members to the Intelsat
Retirees and Alumni Association:
June
2020
Tom Barr Patty Harrison Alan Shingler Maria
Stefanita
Investors Accuse
Intelsat Insiders of Trading on C-Band News
Posted: 8 June 2020
Law360 (June 8, 2020. 5:07 PM
EDT) --
Investors claim major stakeholders in satellite giant Intelsat
dodged $185 million in losses by trading on nonpublic information
about a Federal Communications Commission plan to publicly auction
C-Band spectrum.
Three institutional investors filed suit in California federal court
Friday against BC Partners LLP and Silver Lake Group LLC, two
investment firms that unloaded $246 million worth of their Intelsat
stock on Nov. 5, the same day the FCC allegedly told Intelsat's CEO
the agency would not approve Intelsat's proposal for a private sale
of the spectrum.
The FCC said Nov. 18 that a public auction would be held instead,
meaning that Intelsat would no longer rake in the more than $7
billion it had expected had the private sale gone through and
leading it to file for bankruptcy in May, according to the
complaint. Two days after the announcement, Intelsat's stock price
plunged by nearly 80%, the investors say.
"By offloading significant holdings of Intelsat common stock ahead
of the FCC's announcement, BC Partners and Silver Lake, who were
also parties to joint shareholding agreements, avoided approximately
$185 million in losses," the putative class action alleges. "Their
actions constitute blatant violations of their obligation to
disclose or abstain from trading and present a classic case of
insider trading."
Intelsat, a Luxembourg-based satellite operator that provides
television and radio communications, started working with the FCC in
2017 to determine whether it could free up a portion of its coveted
3.7 to 4.2 gigahertz band, or C-Band, for future 5G use, according
to the suit.
The company and other satellite operators proposed a private sale
process that they would manage and could reap billions of dollars —
in a June 2018 report, RBC Capital Markets predicted that a private
sale would raise Intelsat's target stock price from $5 to $30,
according to the complaint.
On Nov. 5, FCC senior counsel met with Intelsat's CEO to review its
proposal for a private auction of some C-Band spectrum, but "based
on the conduct of the parties and the timing and sequence of
events," it appears the CEO was told the FCC "was unlikely to
approve Intelsat's proposal," the suit says.
After the market closed that day, Intelsat's controlling
shareholders, BC Partners and Silver Lake, began urgently shopping
10 million Intelsat shares at a price of $24.60 per share,
representing a 6% discount on its closing price that day, the suit
says. The investors claim the firms instructed their broker to
insist that buyers had only an hour to decide whether to purchase.
"The shares were sold the next day to investors who had no idea what
had transpired at the November 5, 2019 meeting with the FCC,"
according to Friday's suit. "To the contrary, they, like the rest of
the investing public, had been led to believe that the private sale
was on track and when consummated would result in Intelsat receiving
more than $7 billion for its share of the spectrum."
BC Partners has representation on Intelsat's board of directors
along with an information rights agreement with Intelsat, which
Silver Lake also has, providing both stakeholders with
"contractually bargained-for access to material, non-public
information about Intelsat," the investors allege, including
information about the Nov. 5 meeting.
The two stakeholders had also never sold a single share of Intelsat
stock until their "fortuitously timed sale of 20% of their total
position" after trading closed on Nov. 5, the suit claims.
On Nov. 18, the FCC rejected Intelsat's proposal, and FCC Chairman
Ajit Pai appeared to foreclose any future prospects, backing a
public rather than private auction of the C-Band spectrum.
Intelsat's stock price plunged, wiping out $700 million in market
capitalization in two days. On May 14, Intelsat filed for Ch. 11
protection.
The institutional investors are hoping to hold the two firms, along
with Intelsat directors and BC Partners principals Raymond Svider
and Justin Bateman, liable for the alleged stock drops. Individual
investor James Hill also filed a similar suit in the same court back
in April.
Silver Lake declined to comment. BC Partners and counsel for the
investors did not immediately respond to requests for comment
Monday.
The investors are represented by Marc M. Seltzer and Krysta Kauble
Pachman of Susman Godfrey LLP and Andrew J. Entwistle of Entwistle &
Cappucci LLP.
Counsel information for the investment firms was not available
Monday.
The case is FNY Partners Fund LP et al v. BC Partners LLP et al.,
case number 3:20-cv-03741, in the U.S. District Court for the
Northern District of California.
Intelsat (INTEQ- Free
Report)
came out with a quarterly loss of $1.48 per share versus the Zacks
Consensus Estimate of a loss of $1.37. This compares to loss of $0.87
per share a year ago. These figures are adjusted for non-recurring
items.
This quarterly
report represents an earnings surprise of -8.03%. A quarter ago, it was
expected that this communications and satellite company would post a
loss of $0.99 per share when it actually produced a loss of $0.81,
delivering a surprise of 18.18%.
Over the last
four quarters, the company has surpassed consensus EPS estimates just
once.
Intelsat, which
belongs to the Zacks Satellite and Communication industry, posted
revenues of $458.82 million for the quarter ended March 2020, missing
the Zacks Consensus Estimate by 5.79%. This compares to year-ago
revenues of $528.45 million. The company has topped consensus revenue
estimates three times over the last four quarters.
The
sustainability of the stock's immediate price movement based on the
recently-released numbers and future earnings expectations will mostly
depend on management's commentary on the earnings call.
Intelsat shares
have lost about 93.5% since the beginning of the year versus the S&P
500's decline of -3.3%.
C-Band: Eutelsat Complains Over Intelat/SES 'Incentives'
Posted 3 June
2020
By Chris Forrester June 3, 2020
Eutelsat, not for
the first time, has formally complained to the FCC over the Commission’s
ruling that it would pay around $5 billion to both Intelsat and SES in
‘incentive payments’ for clearing certain C-band frequencies over the
USA.
In essence,
Eutelsat is fearful that the payments – and the related reimbursements
of actual costs of new C-band satellites over the US – will mean that
Intelsat and SES will use the cash to expand functionality and coverage
beyond a one-for-one simple replacement scheme. Eutelsat says the FCC’s
official estimates (aided by analysis by RKF Engineering Solutions) of
the costs of these replacement satellites are far too high and thus are
more sophisticated satellites than currently being used.
Both Intelsat and SES are looking to order between four
and six satellites to replace the lost frequencies. SES, speaking to
Advanced-Television on June 2nd,
said that it was still in negotiation on the satellite contracts but it
was likely that six satellites would ordered, although two would be
ground spares.
EXCLUSIVE: Intelsat Shareholders Send
Angry Letter Asking for Representation in Bankruptcy Court
Posted: 28 May 2020
By
Rachel Jewett | May 28, 2020
Intelsat shareholders
are banding together to make sure their interests are represented in the
company’s Chapter 11 bankruptcy proceedings, according to a letter that
was filed with Acting United States Trustee John Fitzgerald III, who
monitors the case.
Via Satellite obtained
a copy of the letter, which was signed by a group of 73 Intelsat
shareholders representing 2.3 million shares. In the letter, the
shareholders ask Fitzgerald for an equity committee to represent them.
The letter details common shareholders’ concerns that they are not being
fairly treated by Intelsat management, and as the two largest
shareholders, Cyrus
Capital Partners and Appaloosa
LP, own
both equity and debt in the company, they may be willing to accept a
deal that will wipe out common shareholders.
Click
HERE for
further details from Zacks
Equity Research
Welcome New
Members
Posted: 26 May 2020
We are pleased to Welcome the following new members to the Intelsat
Retirees and Alumni Association:
May
2020
Pasquale Delli Carpini Bill Pagden Jim Redpath
Intelsat Opts
into FCC Accelerate C-Band Clearing Plan
Posted: 26 May 2020
Company mobilizes operations to accelerate C-band clearing for U.S.
5G
May 26, 2020
04:23 PM Eastern Daylight Time
MCLEAN, Va --
(BUSINESS WIRE) -- Intelsat, operator of the worl's largest integrated
satellite and terrestrial network, today filed a written commitment with
the U.S. Federal Communications Commissin (FCC) to accelerate clearing
of the U.S. C-band spectrum. Intelsat comleted the filing in
advance of the FCC's May 29 deadline.
Intelsat (I)
Files for Bankruptcy, Aims to Emerge Stronger
Posted: 15 May 2020
Intelsat S.A. I
has reportedly filed for bankruptcy protection in order to raise cash
and prepare the spectrum for public auctioning as it remains weighed
down by the huge debt burden. The company expects that Chapter 11
bankruptcy protection funding will enable it to tide over the storm
until billions of dollars are made available through public auctioning
of its C-band spectrum later this year.
In concurrence with the bankruptcy filing, Intelsat has
earmarked $1 billion in debtor-in-possession financing to sustain
operations during the proceedings and make necessary investments to prop
up the spectrum for the auction. The company expects to emerge stronger
from this financial restructuring process with greater fiscal viability
to continue launching new satellites, building a comprehensive ground
network and adding innovative services to its portfolio.
Despite all these endeavors, the stock has plummeted
97.6% in the past year. Notably, Intelsat’s shares declined sharply in
November 2019 when investors resorted to panic selling as the Federal
Communications Commission (“FCC”) lent its support to the Congress’ move
to hold a public auction for its C-band spectrum. The stock declined
67.1% in 2019, making it the worst performer in the Zacks Satellite and
Communication industry.
FCC Plans to
Auction C-Band Airwaves Despite Intelsat Bankruptcy
Posted: 14 May 2020
by Todd Shields
(
Bloomberg)
-- The Federal Communications Commission said it would move
forward with an auction of valuable airwaves following the
bankruptcy filing of Intelsat SA, which occupies many of the
frequencies to be sold.
Intelsat weighted down by almost $15 billion of debt, filed
for bankruptcy protection as part of efforts to raise caseh
needed to prepare its spectrum for a U.S. government
auction.
The FCC "will continue to move forward with the C-band
auction proces," a spokesman said in an emailed message
Thrusday. The agency "appreciates" Intelsat's
statement that a catalyst for its filing is a desire to get
ready for the auction, the spokesman said.
The agency has set a Dec. 8 start date for the airwaves
sale. Preparations must begin months ahead of that
time, as current ocupants of the airwaves make room for new
wireless users. Intelsat said it needs to spend more
than $1 billion to prepare long before costs are reimbursed.
With its Chapter 11 filing in Virginia, the Luxembourg-base
company said it lined up $1 billion in financing to fund
operations during bankruptcy roceedings and make investments
required ahead of the auction.
Intelsat
Undertakes Financial Restructuring to Pave the Way for Future Innovation
and Growth
Posted 14 May
2020
Strengthened Balance Sheet Will Complement Strong
Operating Model
Process Intended to Enhance Liquidity to Support
Accelerated C-Band Clearing and Continued Investment; Expected to Result
in a Substantial Reduction of Legacy Debt Burden
Commitment Obtained for $1 Billion in
Debtor-in-Possession Financing
Service to Customers to Remain at Same Level of
Excellence
PRESS RELEASE
14 MAY 2020
McLean, VA – May 13, 2020 – Intelsat
S.A. (NYSE: I) (“Intelsat” or the “Company”), operator of the world’s
largest and most advanced satellite fleet and connectivity
infrastructure, today announced that it has undertaken a financial
restructuring to position the Company for long-term success. The
restructuring process is intended to enhance the Company’s liquidity and
will likely result in a substantial reduction of Intelsat’s legacy debt
burden, allowing for Intelsat to emerge with a strengthened balance
sheet to complement its strong operating model and future growth plans.
One of the primary catalysts for restructuring the
balance sheet now is Intelsat’s desire to participate in the accelerated
clearing of C-band spectrum under the Federal Communications Commission
order in support of a build-out of 5G wireless infrastructure in the
United States. To meet the FCC’s accelerated clearing deadlines and
ultimately be eligible to receive $4.87 billion of accelerated
relocation payments, Intelsat needs to spend more than $1 billion on
clearing activities. These clearing activities must start immediately,
long before costs begin to be reimbursed. The Company is also managing
the economic slowdown impacting several of its end markets caused by the
COVID-19 global health crisis.
“This is a transformational moment in the history of our
company,” said Stephen Spengler, Chief Executive Officer of Intelsat.
“Intelsat is the pioneer and foundational architect of the satellite
industry. For more than 50 years, we have been respected for quality,
innovation, sector leadership, and premium services. Our success has
come despite being burdened in recent years by substantial legacy debt.
Now is the time to change that. We intend to move forward with the
accelerated clearing of C-band spectrum in the United States and to
achieve a comprehensive solution that would result in a stronger balance
sheet. This will position us to invest and pursue our strategic growth
objectives, build on our strengths, and serve the mission-critical needs
of our customers with additional resources and wind in our sails.”
Intelsat Files
for Bankruptcy Protection
Posted: 14 May 2020
Darrell
Etherington | TechCrunch-May 14, 2020
Global satellite
operator
Intelsat
has voluntarily filed for Chapter 11 bankruptcy protection, the company
announced late on Wednesday. Intelsat has attempted to
position this
as a positive momentthat sees it
embark on a "financial restructuring" project to enable its future growth, but a
bankruptcy filing is seldom cause for celebration.
The company cites
a need to participate in the FCC's C-band spectrum clearing for 5G
network build out in the U.S. as one of the factors behind its decision
to file, as well as "managing the economic slowdown impacting several of
its markets caused by the COVID-19 global heath crise."
Intelsat notes
that its current plan involves no changes to the day-to-day operation of
the company, or any reduction in the headcount. The company also
said that it has secured $1 billion in committed new financing, which
will come in the form of debtor-in-position funds, subject to court
approval. That just describes any company that plans to continue
to operate its business while also undergoing Chapter 11 bankruptcy
proceedings.
Sen. Kennedy: Intelsat Bankruptcy Changes
C-Band Compensation Equation
Posted: 14 May 2020
Says FCC should reverse its course and keep money for
the treasury
John Eggerton | May 14, 2020
Satellite services provider Intelsat has announced a
"financial restructuring to position [it] for long-term success" at what
it called a "transformational moment in the history of our company," or,
as Intelsat critic Sen. John Kennedy (R-La.) put it: "Intelsat’s
decision to file for bankruptcy."
On that news, whichever way one looks at it, Kennedy said
the FCC should "withdraw its offer, take control of America’s spectrum
and save taxpayers billions of dollars instead of shelling out that
money to foreign companies."
He said the Intelsat filing makes it clear that Intelsat
"had no intention of accepting the FCC’s deal." Intelsat in a tweet on
the restructuring said its business would continue "without
interruption."
That "offer" was a reference to the FCC's decision to
provide billions of dollars in incentives and auction proceeds to
Intelsat and other satellite service providers to give up 300 MHz of
spectrum (out of a total of 500 MHz) in the C-Band for 5G.
Click
HEREfor
further details from
MultiChannel News
Intelsat Files for Chapter 11 Before 5G
Spectrum Sales
Posted: 14 May 2020
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