A long-running Class Action against certain Intelsat directors and their investment firms and its then chairman (Dave McGlade) alleging inside trading has been dismissed by a US Appeals Court. The Class Action, led by a hedge fund Walleye Opportunities Master Fund, and others, had “failed to adequately show that the insiders learned adverse news about […]
Intelsat has signed a contract with Starfish Space for a geostationary satellite space tug servicing mission which will take place in 2026. Starfish Space’s ‘Otter’ rescue satellite will attach itself to an already retired Intelsat craft to validate that the system can work. This test linkage will be followed by another rescue mission for an […]
Intelsat emerged from its Chapter 11 bankruptcy in February 2022. However, there were many smaller matters that its bankruptcy court still had outstanding, not least a dispute between Intelsat and SES over how the FCC’s C-band incentive payments were to be divided. Over the past few months, these minor elements have all been resolved. Smaller […]
Intelsat, operator of one of the world’s largest integrated satellite and terrestrial networks, has renewed its partnership with Sony Pictures Networks India in delivering entertainment content to viewers across Asia-Pacific including Southeast Asia. For over two decades, Sony Pictures Networks India has relied on Intelsat’s resilient satellite infrastructure to distribute its 26 channels, reaching over […]
Intelsat has launched high-speed inflight connectivity service on the first of more than 40 new Condor Airlines’ Airbus narrowbody aircraft following an agreement that includes factory installation by Airbus. “Intelsat’s 2Ku service will deliver streaming-quality connectivity for passengers even in busy European airspace,” said Dave Bijur, Senior Vice President of Commercial Aviation. “The factory installation […]
The long-running litigation between SES and Intelsat over the FCC’s C-band compensation payments, and running since May 2020, is being held in abeyance with the agreement of both parties and Intelsat’s bankruptcy court. A joint motion presented to the court on May 6th said that if the now agreed sale of Intelsat to SES is […]
Fitch Ratings has given Intelsat SA (and sister company Intelsat Jackson Holdings) a ‘Rating Watch Positive’ (RWP) and ‘Credit Positive’ overview and helped by the incoming buyer SES and its stronger financial and credit profile. The RWP reflects Fitch’s expectations that SES SA’s acquisition of Intelsat, announced on April 30th, will be a credit positive, […]
SES’s senior management briefed analysts after their April 30th announcement that SES would buy Intelsat in a $3.1 billion (€2.8bn) cash purchase. The deal is transformational, not just for SES and Intelsat themselves but for the industry as a whole. However, despite some very appealing statistics and forecasts, shareholders were extremely unhappy. Its share price […]
In a surprise announcement, SES has announced it is buying rival Intelsat with a cash payment of $3.1 billion (€2.9bn). In a press statement, SES said: “The combination will create a stronger multi-orbit operator with greater coverage, improved resiliency, expanded suite of solutions, enhanced resources to profitably invest in innovation, and benefit from the collective […]
The long-running legal battle between SES and Intelsat over more than $400 million (€375.2m) which SES is claiming out of the sum received by Intelsat from the FCC’s compensation scheme for the reuse of C-band, has been postponed. A hearing initially set for April 24th has now been rescheduled for July 17th. SES is arguing […]