Soyuz Rocket Fails 29 Seconds Into Launch
Military Space Contracts in FY02 Totaled $4.2 Billion
Orbital Successfully Launches Target Vehicle for U.S. Missile Defense Agency
News Corp. Acquisition of DirecTV Likely to Win Approval
Frontier Airlines Adds DirecTV Through LiveTV
Hughes Software Partners With MontaVista Software
Globecomm Gets $2.3 Million Contract
Gilat to Provide VSAT Network to 3,200 Sites in Brazil
Black Box Corporation Test Market DIRECWAY in Minneapolis
Isonetric To Launch One-Way Satellite Internet Service in the UK
Ireland Trials SchoolSat Broadband Satellite Service in Schools
Gilat Begins Restructuring Debt
Loral Completes Share Exchange
Sirius Trades Debt for Equity - Adds Funds Through Sale of New Stock
Isaac Palmer Promoted to SVP at Viacom
PanAmSat Appoints Estevao Ghizoni to Senior Director - Latin American
A Russian Soyuz rocket carrying a European research satellite exploded 29 seconds after blast-off, killing a 20-year-old serviceman. The failed launch from Russia's Plesetsk cosmodrome, is the first failure of a Soyuz booster in eleven years.
Military Space unclassified contract actions announced by the Pentagon during FY02 totaled $4.22 billion, up from $1.56 billion during FY01, a Teal Group analysis reveals. These military space contract actions were awarded to 32 companies, 31 company subsidiaries and other organizations, including joint ventures. The contract actions ranged widely in size, from as small as a $10,000 increment al award to ADC International to a $2.15 billion award to Lockheed Martin Space Systems for restructuring the Space Based Infrared Systems High component engineering, manufacturing and development.
Orbital Sciences successfully launched a target rocket in support of the U.S. Missile Defense Agency's Ground-based Midcourse Defense (GMD) system's flight test program. The launch, from Vandenberg Air Force Base, California, is the sixth missile defense mission this year by Orbital. The company's Orbital/Suborbital Program Target Launch Vehicle (OSP TLV) was launched at approximately 10 p.m. (EDT), which initiated the flight sequence for MDA's Integrated Flight Test-9 (IFT-9). The OSP TLV, which deployed a mock reentry vehicle and decoys, was successfully intercepted over the Pacific Ocean by an exoatmospheric kill vehicle that was carried aboard a booster vehicle launched from the Ronald Reagan Missile Test Site in the Marshall Islands. The success marks the fourth interception in the last four tests.
"We are once again very proud to support MDA's Integrated Flight Test program with our OSP target vehicle and we congratulate the entire team on the success of the test," said Mr. Ronald J. Grabe, Orbital's Executive Vice President and General Manager of its Launch Systems Group
Although some consumer groups are already protesting the idea, antitrust attorneys believe a News Corp. purchase of DirecTV would win full regulatory approval.
Frontier Airlines has signed a purchase and long-term services agreement with LiveTV to install satellite receiving equipment that will bring DirecTV Airborne satellite TV programming to every seatback in its Airbus fleet.
Hughes Software Systems (HSS) formed a partnership with Sunnyvale, Calif.-based MontaVista Software. HSS, a unit of Hughes Electronics based in New Delhi, India, is serving an increasing number of network equipment providers who are demanding carrier-grade Linux platforms for their next-generation infrastructure products," according to Manoranjan Mahopatra, COO at HSS. The availability of HSS protocol stacks for MontaVista Linux Carrier Grade Edition will reduce development cost and time-to-market for these OEMs.
Globecomm Systems, a provider of end-to-end satellite-based communications solutions, earned a $2.3 million contract to provide follow-on equipment and services to expand the capacity of the previously announced Multi-Service IP Network for Tonga's Shoreline Communications Ltd.
Gilat Satellite has been selected by Brazil's Communications Ministry to provide two-way, satellite Internet service to 3,200 sites nationwide, in a contract worth US $23 million. The satellite communications network, based on Gilat's Skystar 360E(TM) VSAT product, will serve Brazil's new GESAC program that was established to provide Internet access to millions of citizens in 3,200 communities nationwide. It is the first government program of its kind in Brazil. Mr. Juarez Quadros, Brazil's Minister of Communications said, "GESAC is a major undertaking that will help bridge the digital divide in Brazil. The program brings Internet access and computer usage to citizens with little or no purchasing power. Gilat has successfully deployed similar services worldwide that have proven to be dependable and easy to maintain."
Black Box Corporation has signed an agreement with Hughes Network Systems to provide DIRECWAY(R) satellite broadband solutions. The service will be test marketed in the greater Minneapolis, MN area and based on the results, may roll out DIRECWAY satellite solutions throughout the United States.
"Our customers want complete communications solutions from one source," says Stuart Gilbert, Regional General Manager for Black Box Minnesota. "DIRECWAY gives our customers satellite communications that are both high speed and low cost. It's a great complement to the broad range of network services we already provide." The agreement gives Black Box the opportunity to expand its services to existing customers, as well as broaden its current customer base. "This is the first time Black Box will offer satellite communications solutions, and we are pleased that they chose HNS," says Emil Regard, Vice President of Marketing for HNS.
Isonetric will offer one-way satellite for £30 a month. The service is comparable in price to some ADSL-based broadband packages, but the hardware costs are £249 for the dish with a £45 installation fee. Users must sign up for a 12-month contract, and the hardware and installation fees can either be paid up front or spread over a year. Isonetric's offering will provide up to 1 Mbps download rate and should be available in November.
Ireland is trailing a broadband Internet service delivered by satellite as a way to increase Internet access in its schools. SchoolSat will utilize the Eutelsat W3 satellite and will be supported by the European Space Agency.
Gilat Satellite Networks and its major lenders and bondholders have reached general agreement on the guidelines regarding its debt restructuring. The parties have agreed to cooperate in crafting a detailed restructuring plan within a 30-day timetable. Gilat filed Wednesday an application with the Israeli District Court in Tel Aviv to commence the approval for the restructuring plan and a stay of action by the bondholders. Gilat's bond debt involves $350 million, 4.25% convertible subordinated notes due in 2005. Gilat said the guidelines include converting part of the bonds into common stock and options, and placing the remainder into new long-term convertible bonds with a grace period for interest payments.
"We expect the debt level will be significantly reduced by approximately $300 million by converting a substantial amount of debt to equity or options to acquire equity in the company," said Yoel Gat, Gilat chairman and CEO. "Post restructuring financing costs are expected to be relatively minimal (less than US $ 5mn cash per year) for the first few years," he added. Concerns about the company's financial stability cost Gilat a rural telecommunications contract in Colombia earlier this year, a contract award that Gilat is appealing.
Hughes Reports Third Quarter 2002 Results - DIRECTV U.S. Revenues Increase 19% While EBITDA Reaches $196 Million
Loral has completed its exchange of $1.92 in cash and 6.54 shares of Loral common stock for each share of its preferred stock. Under the offer, roughly 4.34 million shares of its 6-percent Series C preferred and approximately 2.82 million shares of its 6 percent Series D preferred stock were tendered and accepted for exchange. To complete the exchange, Loral is paying $13.7 million and issuing 46.8 million common shares, while retiring preferred shares representing $358 million of mandatory redemption obligations and $21.5 million in annual dividends.
Sirius Satellite Radio signed an agreement with debt holders to convert most of its $700 million in debt and all of its $525 million of preferred stock into common stock. In addition, the company will generate $200 million from the sale of newly-issued common stock to Oppenheimer Global Funds-$150 million, affiliates of Apollo Management, L.P.-$25 million, and The Blackstone Group L.P. -$25 million.
Viacom Entertainment promoted Isaac Palmer to senior vice president of corporate development.
PanAmSat appointed Estevao Ghizoni as head of its operations and sales efforts across the southern region of Latin America and will report to Carmen Gonzalez-Sanfeliu, PanAmSat's vice president of Latin America. Mr. Ghizoni has 20 years experience in the telecom arena and holds a BS Engineering degree from Instituto Technologico de Aeronautica, Sao Paulo, Brazil.
December 4-6, 2002
San Diego, CA
ACT Conferences
http://www.actconferences.com/sif2002/
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