Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Vayda who wrote (10641)	10/23/2003 7:02:13 AM
From: Jeff Vayda	Read Replies (1) \| Respond to of 10852

Court approves Loral's agreements with DirecTV and PanAmSat LORAL NEWS RELEASE Posted: October 22, 2003 <Looks like competition is good (see my bold in the article). Makes you think BLS must be giving out bk prices if DirectTV increases the bid by such a large amount just because Dish is sniffing about. Oh well a satellite here and a satellite there, pretty soon you are talking about a profitable business! Jeff Vayda> Loral Space & Communications today announced that the U.S. Bankruptcy Court for the Southern District of New York has authorized Loral subsidiary Space Systems/Loral (SS/L) to execute an existing contract with DIRECTV, Inc., as amended, to complete and deliver the DIRECTV 7S satellite. The court also approved the binding authorizations to proceed (ATPs) issued to SS/L for the construction of two satellites for DIRECTV (DIRECTV 8 and DIRECTV 9S), and one satellite for PanAmSat Corporation (Galaxy 16). PanAmSat also has an option to order an in-orbit spare for one of its existing satellites from SS/L on terms to be agreed upon. The aggregate value of the three new awards is in excess of $320 million. DIRECTV will make advance payments of $25 million on each of its two new satellite orders and PanAmSat will make an advance payment of $25 million on its new satellite order, for a combined non-refundable cash advance of $75 million. SS/L now has received orders for a total of four satellites this year. Also, EchoStar Communications Corporation sought to purchase the nearly complete DIRECTV 7S, a transaction to which Loral was opposed. DIRECTV agreed to increase the total contract value for the construction of DIRECTV 7S by $25 million to approximately $165 million. Space Systems/Loral is a premier designer, manufacturer, and integrator of powerful satellites and satellite systems. SS/L also provides a range of related services that include mission control operations and procurement of launch services. Based in Palo Alto, Calif., the company has an international base of commercial and governmental customers whose applications include broadband digital communications, direct-to-home broadcast, defense communications, environmental monitoring, and air traffic control. SS/L is ISO 9001:2000 certified. For more information, visit www.ssloral.com. Loral Space & Communications is a satellite communications company. Through its Skynet subsidiary, it owns and operates a global fleet of telecommunications satellites used by television and cable networks to broadcast video entertainment programming, and by communication service providers, resellers, corporate and government customers for broadband data transmission, Internet services and other value-added communications services. Loral also is a world-class leader in the design and manufacture of satellites and satellite systems through its Space Systems/Loral subsidiary.