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GLOBAL: Carey to rejoin News Corp
News Corp. has recruited the chief executive of North America's largest satellite broadcaster, DirecTV Group, Chase Carey. Carey returns to the company as an assistant to CEO Rupert Murdoch....
GLOBAL: All aboard
The maritime market has been the bread and butter for the mobile satellite industry for over two decades. The very nature of the global shipping industry has meant it is innately reliant on satellite services to communicate and send data. Indeed, bac...
LAUNCHPAD: Sea Launch files for bankruptcy
Sea Launch has filed for Chapter 11 bankruptcy protection with the US Bankruptcy Court for the District of Delaware. It cited the need to address the company's financial challenges as the reason....
SERVICES: Setanta ends UK operations
The pay TV broadcaster Setanta has ceased operating in the UK and appointed Deloitte as administrator. Its other international and Irish businesses will continue to trade while possible sale opportunities are explored. Denton Wilde Sapte is advising ...
SERVICES: ESPN takes up Premiership baton
The Disney-owned sports broadcaster ESPN has jumped in to fill the void and has acquired the rights to broadcast 46 live matches for the 2009-2010 season, and 23 matches per season from 2010-2013....
SERVICES: Sirius XM to issue US$526m notes to pay down debt
Satellite radio provider Sirius XM is to issue US$525.8m of four-year 11.25% senior secured notes in order to repay XM Radio's outstanding senior secured term loans, with the balance to be used for general corporate purposes....
OPERATORS: SingTel signs capacity deal with ABS
SingTel has bolstered its satellite capacity by signing a US$80m transponder purchase deal with Asia Broadcast Services. The Singapore telecoms giant will purchase multiple transponders on the ABS-2 satellite, which will be launched in late 2011/earl...
OPERATORS: Inmarsat closes in on forward start facility
Mobile satellite services operator Inmarsat is understood to be close to securing a forward start facility with its lenders on approximately £450m of existing debt....
OPERATORS: HNS selects SS/L for new US$250m Ka-band satellite
Hughes Networks Systems has contracted Space Systems/Loral (SS/L) to construct its next generation Ka-band satellite Spaceway 4. The spacecraft is due to be launched in the first quarter of 2012 and will cost US$250m....
GPS: TomTom in E430m equity offering to pay down debt
Satellite navigation device manufacturer TomTom is planning to raise E430m through a fully underwritten equity issue in order to reduce its debt burden....
GROUNDSEGMENT: Thomson gets a month's headroom to agree debt restructuring plan
Video solutions specialist and set top box maker Thomson SA has secured a further extension to waive potential covenant breaches on its senior financial debt until July 24....
GLOBAL: All aboard
The maritime market has been the bread and butter for the mobile satellite industry for over two decades. The very nature of the global shipping industry has meant it is innately reliant on satellite services to communicate and send data. Indeed, bac...
CANADA: New satellite operator created to tap AIS market
Canadian space hardware manufacturer Com Dev has spun out a new subsidiary company called exactEarth Ltd which will offer advanced space-based Automatic Identification System (AIS) data services to the global maritime industry....
GLOBAL: Globalstar secures US$586.3m Coface-backed credit facility
Globalstar has finally got the green light for the financing that will fund its second generation LEO system. The MSS operator has signed an agreement with a syndicate of French banks for a US$586.3m senior secured credit facility, which is being sup...
UK: GHL looking to mandate bank for potential share issue
GHL Acquisition Corp, the blank cheque company that is planning to acquire mobile satellite operator Iridium, has filed a shelf registration stating that it may offer additional shares of common stock worth up to US$200m, subsequent to the closing of...
CANADA: Telesat ends Telstar 10 leasehold agreement
Telesat Canada has signed an agreement to relinquish its leasehold interest in Telstar 10/ Apstar-2R to the satellite's owner APT Satellite Company Ltd for a total consideration of US$69.5m. The transaction, which is expected to be completed in July ...
USA: ICO North America files for bankruptcy protection
Mobile satellite services operator ICO Global has announced that its North American subsidiary has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of New York....
MEXICO: Satmex in talks with bondholders over debt restructuring
Mexican satellite operator Satmex is currently in negotiations with its bond and share holders over restructuring its debt in order to enable it to secure new financing for the purchase of its planned Satmex 7 satellite. Satmex has hired Perella Wein...
USA: WildBlue eyeing potential funding for WildBlue 2
Satellite broadband provider WildBlue is planning to secure fresh funding in the next few months to fund the purchase of its planned WildBlue 2 satellite....
USA: HNS nets US$150m in private bond offering
Satellite broadband provider Hughes Network Systems (HNS) has raised US$150m through the private offering of 9.5% five-year senior unsecured notes. The notes, which were issued via subsidiary HNS Finance Corp, priced at 90.935 to yield 12%. JPMorgan ...