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Article: Intelsat Expects Closing of Purchase of Loral's North American Satellite Assets as Early as Year End; Company Awaits FCC Approval--the Final Milestone--and Announces Conference Call.
- Article from:
- Business Wire
- Article date:
- November 11, 2003
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Business Editors
HAMILTON, Bermuda--(BUSINESS WIRE)--Nov. 11, 2003
Intelsat, Ltd. today announced that the time for appealing the bankruptcy court's order approving the company's pending purchase of the North American satellite assets of Loral Space & Communications Corporation has expired and that no appeal was taken. This milestone sets the stage for an expedited closing of the transaction as early as year end.
Following closing of the transaction, the assets to be acquired would significantly enhance Intelsat's geographic coverage and its presence in the broadcast video market. Upon consummation of the transaction, the Loral assets, ...