Orion Express began selling direct-to-home TV in Russia using Intelsat’s IS-15 satellite through a multiyear, multitransponder contract, Intelsat said. It said Orion will offer access to 66 channels. The financial terms weren’t disclosed.
Lockheed Martin’s Space Systems division had a 9 percent sales increase in Q3, versus Q2, the company said on Tuesday. It credited the growth to “higher volume in commercial satellite and government satellite activities.” Still, the division’s operating profit fell 3 percent to $236 million because of performance adjustments in its government satellites program, the company said. Revenue from space transportation increased due to higher equity earnings on its joint venture with Boeing, the United Launch Alliance, and volume on the Orion program it’s working on for NASA, it said. Through the first three quarters, profit declined from a year earlier at Lockheed’s space systems division, which includes satellites, space transportation and strategic and defensive missile systems, the company said without releasing the numbers. The space transport decrease resulted mainly from a 2008 accounting benefit from successful negotiations over a terminated commercial launch contract, it said. Lockheed said satellite profit fell because of a reduction in commercial satellite activities. The company’s net profit totaled $797 million.
Globecomm signed a contract valued at $5.7 million with an unspecified media and entertainment company in Asia. Globecomm will design and install on a “turnkey basis” broadcast infrastructure allowing the customer to expand its subscription-based direct-to-home satellite service, it said. The project also includes Globecomm’s AxxSys Orion satellite network management system, which will enable the customer to control all aspects of the installed infrastructure including diversity, it said. Globecomm said it expects to complete the work in its quarter ending March 31, 2010.
Roger Nishi, Waitsfield & Champlain Valley Telecom, becomes OPASTCO chmn… New board members at China Wireless Communications: Iouri Onoufrienko, Onuffer Flooring, and Robert McElhinney, Skywest Airlines… Paul Stodden, ex- Debitel, becomes chmn. of Germany’s Orion Cable… China Telecom names Joseph Shieh, ex-Mega Financial, senior vp- CFO… New at Ascent Media: Jose Royo promoted to CTO; Richard Andrews, ex-Technicolor Creative Services, becomes COO-global media services… Independent Film Channel promotes Kent Rees to vp-mktg… Leon Schweir, ex-Madison Square Garden Networks, becomes Big Ten Network exec. producer & vp-production… Gannett Digital names Abigail Horrigan, ex-FoodFit.com, vp-mktg… Jay Ennis, ex-Network Chemistry, becomes Netcordia vp-engineering… It’s Our Net spokesman Jim McGann to become KPMG communications dir. Feb. 5.
Alliant Techsystems (ATK) said it won a $90 million contract from Orbital Sciences for Orion solid rocket motors. Orbital will use the rocket motors in a variety defense and commercial satellite launch projects, including DoD’s Ground- based Missile Defense program, ATK said.
Loral said it has finished a 2.5-year reorganization and announced its emergence from Chapter 11 Tues. The firm’s 2 core business units -- Space Systems/Loral for satellite manufacturing and Loral Skynet for FSS services -- are intact, and the firm is exiting Chapter 11 with $180 million cash, said officials. Longtime Loral CEO Bernard Schwartz called the new company a “stronger, leaner and more efficient Loral.”
The FCC authorized Loral to transfer control of space and earth station licenses held by subsidiaries Loral Orion, Loral SpaceCom and Loral Skynet to “New Loral.” The Commission said the transfer benefits the public by: (1) Allowing Old Loral to emerge from bankruptcy and facilitating use of its assets. (2) Infusing capital into and stimulating investment in the Loral satellite system. (3) Fostering FSS market competition. The FCC dismissed a CyberStar application to assign its space station authorizations to Loral CyberStar.
Verizon Controller Dave Benson to retire this year… Grande Communications promotes Andy Sarwal to senior vp- regulatory affairs & gen. counsel… Virgil Pund promoted to SBC vp-gen. mgr., Chicago… Mike Acevedo, ex-Orion Telecom, returns to successor firm, CVT Prepaid, as CEO and board member, replacing Peter Sicilian… Promotions at Jupiter Telecom: Akira Ito to exec. vp-planning & administration; Hiroshi Baba to gen. mgr.-sales support… Alan Young, ex-Citigroup and Viacom, becomes SES Americom chief technical officer… CNBC names Kevin Goldman, ex-Bookspan, vp-public relations… John Wilson, ex-Wentworth Advisors, becomes i2Telecom CFO… One IP Voice names Michael Dozier, ex-IPtimize, vp-sales.
Holders of Loral’s existing common and preferred stock still would not benefit under a revised plan of reorganization the company plans to file with the bankruptcy court Fri. The company said the revised plan would be filed simultaneously with its disclosure statement. In addition to cancelling old stock without redistributing new stock to shareholders, the old plan (filed Aug. 19) showed the company would have kept existing management and Space Systems/Loral (SS/L) and Loral Skynet debt-free (CD July 23 p16). In the new plan, Loral said it would push its expected emergence from Chapter 11 to first quarter 2005 from 4th quarter 2004. Also, Loral said: (1) Unsecured creditors, including bondholders of Loral and Loral Orion, would hold the common stock of the resulting company, New Loral. (2) New Loral would distribute $200 million in new senior secured notes from Loral Skynet to the unsecured creditors of Loral Orion. They'll also have an opportunity to purchase pro-rata shares of an additional $30 million in senior secured notes from Loral Skynet. (3) Creditors of SS/L, Loral SpaceCom Corp. and Loral Satellite would still exchange debt for equity in the new company, but it would be a combination of cash and stock. Recovery is expected to be about 33%, the company said, although the amount is “subject to significant decrease in the event claims materially exceed current estimates.”
Loral SpaceCom, Loral Orion and Loral Skynet asked the FCC for a waiver of their regulatory fees for fiscal year 2004. The fees total $291,657.56, the companies said. Due to bankruptcy proceedings the companies are involved in, the waiver is warranted, they said. “The debtors also request that they be allowed to defer payment of the applicable [fiscal year] 2004 regulatory fees” until a decision is made on the waiver request or for at least 6 months beyond the Aug. 19 due date if the waiver is denied.