Valueman:
Is the SatMex satellite referred to in the following Dow Jones article Morellos III, or are they planning an additional satellite too, for a total of 4 (not including Morellos II). Just curious if this was a rehash of old news or new news. It is dated Wednesday March 25, 1998.
Thanks
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Loral-Led Group To Invest $230M In Mexico Satellite
MEXICO CITY (Dow Jones)--A consortium led by Loral Space &
Communications Ltd. (LOR) said Wednesday it will spend about $230
million on its fourth satellite, scheduled to be launched in October and begin operations in January.
Satelites Mexicanos SA, a joint venture of Loral, Mexico's Telefonica
Autrey SA and the Mexican government, said the SatMex V satellite will be able to transmit television programs, live news broadcasts and other information for 15 years from Canada to Argentina.
Loral President Bernard Schwartz and SatMex executives announced the
plans at a news conference after meeting with Mexican President Ernesto Zedillo.
Separately, Globalstar de Mexico SA, another joint venture of Loral and Telefonica Autrey, is investing $60 million to $80 million in satellite-based wireless telecommunications, Schwartz said. The wireless operation will be linked to 48 Globalstar satellites worldwide and should be ready next year.
Loral and Autrey last year agreed to purchase a 75% stake in Satelites
Mexicanos, or SatMex, the country's newly privatized satellite system. The government has a 25% stake. |
