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Technology Stocks : Loral Space & Communications
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To: Don Limb who started this subject9/12/2003 9:09:48 PM
From: ebg51   of 10852
 
Industry Officials: Loral Satellite Unit Likely To Go To Lockheed Martin
space.com

By PETER B. de SELDING
Space News Staff Writer

PARIS — Lockheed Martin is likely to take over Loral’s satellite-manufacturing arm no matter which of the two announced bidders, Intelsat or EchoStar, wins a U.S. bankruptcy court auction of Loral assets scheduled for Oct. 15, according to industry officials.

In public and private comments here Sept. 8-11 during the "World Summit for Satellite Financing," organized by Euroconsult, officials also said Littleton, Colo.-based EchoStar Communications Corp.’s interest in purchasing all of Loral Space & Communications likely is a serious offer and not a trial balloon. But they agreed that EchoStar would seek to unload the satellite manufacturing business immediately if it purchased Loral.

These officials said EchoStar’s growing direct-broadcast television business could profit from the access to radio spectrum that could come with a purchase of Loral’s satellite assets and their associated orbital positions and frequency allocations. In addition, Loral’s profitable satellite-services business would broaden EchoStar’s current revenue base beyond U.S. television broadcasting. In a bid made outside the standard procedures of the Loral bankruptcy process that began in July, EchoStar is offering $1.45 billion to purchase the New York-based company in its entirety.
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