Failure of AT&T satellite will alter deal with Loral

Article Abstract:

Loral Space and Communications will renegotiate its purchase of AT&T's Skynet Satellite Services after AT&T lost contact with the TelStar 401 satellite. The loss of the satellite will significantly affect the valuation of the sale, since the other satellites included in the deal are considered obsolete. Officials from both companies say the deal will still be completed. AT&T has asked the FCC for permission to use an older satellite to provide temporary service until another satellite can be developed. This purchase will be Loral's first acquisition since it sold its $9.1 billion sale of its military operations to Lockheed-Martin. Loral plans to combine Skynet with its Globalstar global telecommunications system, and its Cyberstar digital transmission system. A Loral subsidiary is manufacturing the TelStar 5 satellite, due to be deployed in 1998.

Radio & TV communications equipment, Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing, Satellite Communications Eqp, Mergers, acquisitions and divestments, Telecommunications services industry, AT&T Corp., T, Loral Space and Communications Ltd., LOR, Satellite communications systems, Company Acquisition/Merger

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Chase forms venture fund with Softbank; Internet-based start-ups in New York are focus

Article Abstract:

Chase Manhattan and Japan's Softbank Corp are each investing $25 million in a venture-capital fund designed to promote Internet companies in New York. The Flatiron Partners Fund plans to invest in promising new East Coast companies, but will focus primarily on Internet and new media companies. Flatiron has reportedly already invested $4 million in Yoyodyne Entertainment Inc, a developer of sweepsstakes and promotional games for the Web. This is the second $50 million plus venture-capital fund established in New York City in summer 1996. Financier Henry R. Kravis and a group of investors started a fund in July that they hope will increase to $100 million. Kleiner Perkins Caufield & Byers recently created a fund for financing the development of applications using the Java programming language.

Internet, Company investment, Investments, Venture capital, Chase Manhattan Corp., Softbank Corp., CMB

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Staying ahead of the curve

Article Abstract:

Wireless computing will be the next trend in personal computing and will be as popular as cellular telephones and pagers are today. Users will carry around devices that transmit and receive data. Communications will be the first field in which wireless will become popular. Price Waterhouse is developing a wireless communications system that will allow employees to work with customers and help solve their problems. One area in which users may really need wireless access to data is in a large transaction such as a merger or an acquisition when they do not have access to a telephone. Users usually do not return to wired methods of communication after experimenting with wireless communications.

COMMUNICATION, Communications, Broadcasting and Telecommunications, Usage, Wireless network, Wireless LANs, Interview, Wireless local area networks (Computer networks), Trends, Communications Management

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