Advanced Television

cband

Moody’s down rates some SES debt

Moody’s Investors Service credit ratings agency has given a “negative outlook” to certain debt owed by satellite operator SES. Moody’s overall rating is their Baa2 rating on SES SA and SES Global Americas Holdings GP. Moody’s says the outlook for both entities remains negative. “The ratings affirmation reflects the slower reduction in the company’s revenues, […]

March 7, 2022By Chris Forrester

SES: C-band extra benefits examined

SES unveiled its end-of-year numbers on February 24th and in its post-results analysts call, CEO Steve Collar explained that the satellite operator was “well ahead” of its work to prepare for FCC-mandated C-band conversion work for the SES. Collar stated the C-band Phase 2 work meant SES was on track to receive the remaining $3bn […]

February 25, 2022

FCC approves Intelsat’s exit from bankruptcy

The FCC has approved Intelsat’s exit from Chapter 11 bankruptcy and the transfer of the ‘old’ company’s ‘debtor in possession’ (DIP) assets to the newly established parent business based in Luxembourg. The FCC’s International Bureau chief Thomas Sullivan said the transfer was in the public interest and approved the request. The FCC ruling explains the […]

February 21, 2022

SES vs Intelsat: Trial wraps

The SES vs Intelsat 50/50 trial over FCC C-band incentive payments has finished its initial examination and cross examination of witnesses. Far fewer witnesses were called by either party and consequently the hearings lasted just 6 full days instead of the 10-12 initially expected. Judge Keith Phillips ruled that both parties must submit their “findings […]

February 18, 2022

Eutelsat crashes on poor results

Eutelsat had a bad day on February 17th in terms of its share price. Poor half-year results and the company pushing out to its 2023/2024 financial year any prospect of much improvement, drove its share price down from €11.39 to €10.70. There are also two satellite launches which are suffering damaging delays. The Paris-based satellite […]

February 18, 2022By Chris Forrester

SES vs Intelsat week 2 update

The hearing of the litigation between SES and Intelsat in front of Judge Keith Phillips is now well into its second week. The dispute concerns the division of FCC ‘incentive’ payments. SES is claiming 50 per cent of the FCC’s allocation of payments, plus damages against Intelsat.. One of the many Intelsat lawyers on the […]

February 16, 2022

SES vs Intelsat: What’s at stake?

The 50/50 legal action between SES and Intelsat continues. SES, in a statement, reminded interested parties as to its claims and core argument. SES originally sought $421 million in direct compensatory damages as well as punitive damages for a total claim of about $1.8 billion. Under a settlement related to Intelsat’s exit plan from its […]

February 10, 2022

SES CEO: “We’re good on 50/50”

Steve Collar, CEO of SES, told the SES vs Intelsat trial currently taking place that he trusted and liked Intelsat’s CEO Steve Spengler. “He was a good guy. I liked him, and I trusted his assurance that [the 50/50 revenue agreement] between SES and Intelsat was solid,” said Collar. He told the court that it […]

February 9, 2022

SES admits FCC decision “could be bad”

SES documents submitted in the dispute between themselves and Intelsat over the division of C-band proceeds admit that the FCC decision to award some 50 per cent of the overall sum involved to Intelsat “could be bad for us”. The statement was made in an email from a senior SES executive to company colleagues. SES […]

February 8, 2022

No delay for Intelsat’s bankruptcy exit

The trial between SES and Intelsat over how the FCC’s C-band ‘incentive payments’ are being distributed opens on February 7th. The court has set aside up to two weeks for the hearings before Intelsat’s Chapter 11 bankruptcy judge Keith Phillips. However, last week the judge delayed an element of the trial dispute revolving around a […]

February 7, 2022