Advanced Television

Speedcast

Speedcast ups capacity demand

Satellite services business Speedcast says it needs more capacity as its bandwidth demands have now returned to pre-pandemic levels. Houston-based Speedcast says it has already added 13 gigabits/second during May – and a new record high for the company – in order to support demand from clients which include some major cruise liners. The company […]

June 21, 2022By Chris Forrester

Inmarsat moves to profit

London-based Inmarsat, itself in the process of being acquired by Viasat of California, turned a 2020 loss of $182.9 million (€166.4m) into a profit for last year of $17.7 million. The profit might seem modest but coming out of the Covid pandemic with many of its core client connectivity services being badly hit, it is […]

March 29, 2022By Chris Forrester

Speedcast, OneWeb partnership

Speedcast, the communications and IT services provider, has announced that it will become a OneWeb Distribution Partner, integrating OneWeb’s Low Earth Orbit (LEO) satellite connectivity into Speedcast’s Unified Global Platform (UGP). OneWeb is set to enter customer trials in mid-2022, bringing in LEO service for Speedcast’s energy and enterprise customers followed by maritime mobility in […]

March 21, 2022

Satellite services consolidation proposed?

Private Equity outfit Apax Partners owns Marlink, a supplier of satellite communications, and is widely reported to be looking to sell. Reportedly it has hired bankers to advise on a sale. However, on January 13th Marlink announced plans to buy satellite solutions provider ITC Global. Nevertheless, there are reports that two normally potential buyers, Speedcast […]

March 22, 2021By Chris Forrester

Speedcast forecasts solid future

Australia-headquartered speciality satellite services business Speedcast formally exited its Chapter 11 bankruptcy last week, helped by a significant injection of cash by new private equity owners Centrebridge Partners. It filed for bankruptcy in April 2020 with some $689 million (€579m) in debt. Speedcast says it is now well-placed for its restructured future. Centrebridge invested some […]

March 19, 2021

Speedcast exits Chapter 11

International satellite communications specialist Speedcast has emerged from its Chapter 11 bankruptcy restructuring. The Australian-headquartered business, in a statement, said: “[Speedcast] has emerged from the Chapter 11 process under new ownership with no secured debt and a healthy cash balance. Speedcast successfully completed the comprehensive restructuring on March 11th after receiving a $500 million equity […]

March 15, 2021By Chris Forrester

Speedcast exits bankruptcy

Australia-based speciality satellite connectivity business Speedcast is ready to exit its Chapter 11 bankruptcy. The actual exit will be in mid-March. The bankruptcy was taking place in the US Bankruptcy Court for the Southern District of Texas, and Judge Marvin Isgur approved the creditor settlement last week. The company voluntary filed for bankruptcy protection and […]

January 26, 2021By Chris Forrester

Speedcast gets $395m to exit bankruptcy

Australian satellite services business Speedcast looks likely to sell itself to its former lender Centrebridge Partners for $395 million (€334.4m). However, the deal, if agreed by the bankruptcy court, could leave its other creditors unsatisfied. Sydney-based Speedcast says it has received a “commitment” from Centrebridge along with an offer by Centrebridge to fund Speedcast’s debtor-in-possession […]

August 14, 2020By Chris Forrester

Intelsat suffering in “challenging” environment

Intelsat’s Q2 results, to June 30th, were not impressive. The company is in Chapter 11 bankruptcy reconstruction as a ‘debtor in possession’ and it is near-certain that it will exit bankruptcy in a stronger position, but at the moment the negative news is extensive. For example: Network Services (worth 37 per cent of Intelsat’s total […]

August 7, 2020By Chris Forrester

Inmarsat gets some Speedcast cash

Barely 48 hours after demanding that Australia-based satellite services company Speedcast (in bankruptcy) pay up its debts, Inmarsat relaxed its demand. London-based Inmarsat had outstanding invoices to Speedcast of almost $26 million. Inmarsat is the second-largest creditor for Speedcast. Inmarsat filed a motion with Speedcast’s bankruptcy court and asking the court to order Speedcast to […]

July 20, 2020By Chris Forrester