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Technology Stocks : Loral Space & Communications

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To: SteveG who wrote (2928)	5/14/1998 10:47:00 AM
From: brian h	Read Replies (1) of 10852

Steve and all, More competition. These big companies must be pretty dumb to determine that these projects will ever make any money without customers. (g) Hughes Could Roll Spaceway into Teledesic By Sheridan Nye Hughes Electronics Corp. confirmed it is in talks with Teledesic about becoming an investor and contractor for the $9-billion broadband satellite venture. Speaking in New York at a satellite finance conference hosted by Bear Stearns & Co, Hughes vice chairman, Steven Dorfman said his company is in preliminary discussions with Teledesic about joining the project. Analysts speculated that Hughes is looking to combine elements of its ambitious Spaceway project with Teledesic's system. Vijay Jayant, satellite analyst at Bear Stearns, pointed to the partnership between Alcatel's Skybridge project and Loral's Cyberstar as an example of companies recognizing the benefits of cooperation through consolidation. According to Hughes' filings with the Federal Communications Commission, its ka-band Spaceway system will consist of eight geostationary satellites supplemented by a second non-geostationary system of 20 satellites. According to the filings, Hughes aims to launch the global broadband data service in 2001. Meanwhile, Teledesic's current lead contractor, Boeing Co., has $50 million invested in the venture plus an option on a further $50 million stake. Last month, Boeing denied suggestions that a reduction in its workforce assigned to the project indicated it was stepping down its commitment. The company said system design work had reached a contract-out stage and it denied that costs associated with the 288-satellite system were escalating to nearer $15 million. Brian H.

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