| Displaying 1 - 20 of 68 matching stories. |
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| 10.01.2008 |
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Hedge Funds and the Satellite Industry (Part II)
Last month, we reviewed the preliminary "Master Contribution and Support" agreement by hedge fund Harbinger Capital Partners, which has invested broadly in the mobile satellite service (MSS) sector to acquire leading MSS operator Inmarsat. Harbinger...
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| 09.01.2008 |
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Hedge Funds and the Satellite Industry (Part I)
In 2003 and 2004, the satellite industry was abuzz with speculation about the entry of private equity firms into the fixed satellite service sector, and we analyzed many potential positive and negative impacts of the new players. In July, Harbinger Capital...
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| 08.01.2008 |
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Satellite Radio Rebooted
The saga of the proposed merger of XM Satellite Radio and Sirius Satellite Radio entered a new chapter in June when Kevin Martin, chairman of the U.S. Federal Communications Commission (FCC), announced his support for a conditional approval of the deal. The...
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| 07.01.2008 |
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Global Foreign Investment And The Space Sector
While this column has examined the impact on the satellite industry of the Committee on Foreign Investment in the United States (CFIUS) regime, the April decision by Canadian Industry Minister Jim Prentice to block the $1.3 billion acquisition of Canadian...
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| 06.01.2008 |
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Times Really Change
A full year after initiating its review, the U.S. Department of Justice approved March 24 the proposed merger between satellite digital audio radio service providers XM Satellite Radio and Sirius Satellite Radio. The approval was granted without conditions...
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| 05.01.2008 |
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Dealing With The Credit Crisis
There has been plenty of gloom in the first months of 2008 stemming from the credit crisis born of the subprime mortgage meltdown and the end of easy and cheap debt financing that underpinned the highly leveraged private equity transactions that transformed...
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| 04.01.2008 |
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Hybrid Satellite-Terrestrial Networks Growing In Popularity
As we move past a period of intensive financial engineering and consolidation, the satellite industry increasingly is focused on how it will compete with and complement terrestrial communications providers in the future. The man-made and natural catastrophes...
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| 03.01.2008 |
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Sovereign Funds And The Space Business
The private equity investment of capital into the satellite sector since 2003 has fuelled industry growth, consolidation, and rationalization. The subprime mortgage crisis and resulting credit crunch across investment and commercial banking groups threatens...
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| 02.01.2008 |
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Mergers And Acquisitions: Material Adverse Change
The recent turmoil in credit markets has caused acquirers and their lenders in several high-profile pending merger and acquisition transactions to seek ways to withdraw from or renegotiate signed deals, because the expected financing either is not available...
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| 01.01.2008 |
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Reverse Mergers: Going Public Without Underwriting
The use of so-called “reverse mergers” in the United States has blossomed in recent years. What formerly was an “on-the-cheap” method of attaining public company status — employed by sometimes shady promoters — has...
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| 12.01.2007 |
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A Look Back; A Look Ahead
As 2007 winds down, it is interesting to think about the satellite industry subsectors and where they are going. In our industry, companies compete within subsectors such as fixed satellite service (FSS), mobile satellite service (MSS), direct broadcast...
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| 11.01.2007 |
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IPTV: The Business Model (Part IV)
This is the last installment in our review of key “demand triggers” for IPTV (Internet Protocol TV) takeup. Since IPTV is widely touted as the principal driver of fixed satellite service and direct-to-home satellite growth in the near future...
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| 09.01.2007 |
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IPTV: The Business Model (PART II)
In August, we reviewed IPTV (Internet Protocol TV) as a driver of next-generation fixed satellite service and direct broadcast satellite service. We looked at the technology and identified four likely business demand triggers for IPTV rollout: high-definition...
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| 08.01.2007 |
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IPTV: The Business Model (Part I)
IPTV (Internet Protocol TV) has emerged as the driving next-generation core business of the fixed satellite services (FSS) sector. Analysts have predicted there will be between 35 million and 50 million IPTV subscribers worldwide by 2010, up from 5 million to...
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| 07.01.2007 |
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Rejection Of AsiaSat Deal Highlights Commercial Impact Of Export Control
In April, the U.S. State Department used the American technology export regulatory regime to bar the $295 million acquisition of AsiaSat by its principal shareholders, GE Capital Equity Investments and Citic Group of China. The deal would have taken AsiaSat...
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| 06.01.2007 |
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Intelsat: In Play Again
The Fixed Satellite Service (FSS) sector, which has shown signs of settling into a period of operational growth after three years of financial engineering and consolidation, was thrown back into turmoil in April when reports surfaced that private equity firm...
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| 05.01.2007 |
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Will Galileo Become Spacebus?
Europe’s Galileo satellite navigation project was launched with great fanfare earlier this decade by the European Union (EU) and European Space Agency, and the first testbed satellite began transmitting signals in early 2006. But something has gone...
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| 04.01.2007 |
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The Public Company Regulatory Burden and Privatization of the U.S. Economy
This column has analyzed both the probable impact of private equity investment in the satellite sector and the regulatory burdens imposed on publicly listed companies in the United States in the wake of the Arthur Andersen, WorldCom and Enron accounting...
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| 03.01.2007 |
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Times Change
In June 1997, then-U.S. Federal Communications Commission (FCC) chairman Reed Hundt called a hypothetical merger between AT&T and one of the regional Bell operating companies (RBOCs) spun off in the 1984 AT&T divestiture “unthinkable” on...
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| 02.01.2007 |
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Loral-Telesat: Regional Consolidation Begins
The December announcement that Loral Space and Communications and a Canadian public pension fund will purchase Telesat Canada from Bell Canada Enterprises should not have surprised industry observers. In December, we looked at the possibilities for further...
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