Loral agrees to purchase the Skynet Satellite system
Article Abstract:
Loral Space and Communications agrees to acquire Skynet Satellite Services for a cash price of $712.5 million. Loral has been eager to enter the commercial satellite market since selling off its military divisions in spring 1995. The company is leveraging the purchase with $500 million in debt but will still have cash reserves of $400 million for future acquisitions. The system consists of four orbiting satellites that carry computer data, telephone and television traffic. The deal includes a satellite scheduled for launch in 1998 and another still in development. An R&D facility and two control stations are also included. Skynet will become Loral Skynet and will be integrated with the Globalstar telephone system and the Cyberstar digital transmission system. AT&T says it sold Skynet because it wants to focus on its retail business, and Skynet services are sold to broadcasters who resell them as part of their own packages.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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France Telecom plans update for Minitel; I.B.M. to develop network for a new on-line information service
Article Abstract:
France Telecom announced plans for IBM to develop a networking system for its Minitel online information service, in which customers could surf the Internet without a PC. Technology-savvy users worldwide instead would access the Internet through a system that features simple and inexpensive screen-based telephones. Minitel, which the French Government introduced in 1983 to provide advanced communications to the public, hopes the new system will shift usage from its unsophisticated little terminals and proprietary network. Minitel serves around 15 million users and hosts approximately 25,000 services despite its absence of graphics and access to little outside France. Specifics of the contract call for IBM to develop a new networking program that links new Internet devices, while France Telecom would maintain and upgrade individual terminals's software. Financial terms were not disclosed.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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News Corp. and MCI win satellite slot; bid of $682 million to beam TV to homes
Article Abstract:
News Corp and MCI jointly acquire satellite technology from the Federal Government for $682 million, gaining the capability to directly transmit TV signals to homes throughout the US. The companies intend to further invest $1 billion in the coming years to fund the operation, with service slated to begin before 1998. While MCI and News Corp executives praise the future of their joint venture and satellite communications as a technology, some analysts suggest the companies may have overpaid to enter a market in which they will begin substantially behind the leaders. MCI and News Corp will face considerable competition from AT&T, which recently acquired a stake in DirecTV and will vigorously market the company's services through its sales force.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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