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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..] -- Ignore unavailable to you. Want to Upgrade?

To: Peter Ecclesine who wrote (821)	10/26/1999 9:40:00 AM
From: MangoBoy	Read Replies (1) \| Respond to of 1860

[Liberty Media to buy 31.6 pct stake in Astrolink] NEW YORK, Oct 25 (Reuters) - Liberty Media Group (NYSE:LMG.A), the cable TV programming arm of AT&T Corp. (NYSE:T), said on Monday it signed a deal to invest $425 million in Astrolink, a wireless broadband venture, and would become its largest stakeholder. The investment, which would give Liberty a 31.6 percent share of the venture, brings the total equity in Astrolink to $1.325 billion, the company said. Astrolink is a three-month-old planned network of satellites designed to provide a high speed communications services. Liberty Media's investment, expected to be completed within 30 days, brings Astrolink to "substantially all of its equity target," a statement said. Other stakeholders include Lockheed Martin Global Telecommunications, a unit of Lockheed Martin Corp. (NYSE:LMT); Telespazio, a Telecom Italia Group's (NYSE:TI) (MILAN:TIT) company; and TRW Inc. (NYSE:TRW). Astrolink is scheduled to begin service in 2003. Earlier on Monday, Emmis Communications Corp. (NASDAQ:EMMS) said Liberty Media will buy about 14 percent of Emmis for about $150 million. Liberty's shares fell 5/8 to 36-7/8 in Monday trading on the New York Stock Exchange. astrolink.com