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Technology Stocks : Loral Space & Communications
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To: donss who wrote (5411)3/1/1999 7:09:00 PM
From: Valueman  Read Replies (2) of 10852
 
Interesting turn of events here. The CEO of PanAmSat resigned today. On Saturday, the biggest customer on PAS-5, SkyMexico, started to bail out. From the 12 transponders they used to have, they now use 5. Where is the SkyMexico programming? On Solidaridad 2! A score for SatMex. Remember, PAS-5 is one of those HS601's with the battery troubles(also Galaxy VIII, Palapa, and HGS-1). It would appear, from looking at the moves of SkyMexico, that they do not trust the future of PAS-5. The dreaded eclipse season starts later in March I believe. SkyMexico delaers indicate that they are repointing customers from 58W(PAS-5) to 113(Sol. 2). What would be worrisome for SPOT IF PAS-5 indeed has troubles is that they have no backup in that area until later in the year, unless they move something there. Looking down the list of clients, they would be wise to try and keep the rest. A good mix of broadcasters resides there. Significant questions--what does this mean for the future of PAS-5(and what opportunities arise for SatMex)? What about Galaxy VII which has all of Galaxy Latin America's programming? Will it have troubles during the eclipse season? Is there more to Hughes quality problem than we have been told? Palapa is the only one admitting to a certain death during the next eclipse, and the customers have been fleeing there for the last several months. We will see what SPOT says. This is an untimely problem with the CEO resigning. SatMex will undoubtedly benefit.
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