![]() The spacecraft is designed to last for 15 years in geosynchronous orbit. The 11,700-pound (5,300-kilogram) SES-9 was constructed by Boeing Satellite Systems off of the aerospace firm’s 702HP platform. Sony WF-1000XM3 Catch up with Data Sheet, Fortune’s daily digest on the business of tech.SES-9 is based on the 702 HP platform. Hospitals are running low on the most critical supply of all: oxygen -Listen to Leadership Next, a Fortune podcast examining the evolving role of CEO -WATCH: Best earbuds in 2020: Apple AirPods Pro Vs. ![]() ![]() How to prevent “Zoom bombing” -Why China’s tech-based fight against the coronavirus may be unpalatable in the U.S. How the coronavirus stimulus package would change gig worker benefits -Zoom meetings keep getting hacked. More must-read tech coverage from Fortune: Tepper’s firm also bought Intelsat bonds and could turn a profit in the end, depending on how the satellite company weathers the C-band auction process and a possible bankruptcy filing.Ī spokesman for Tepper declined to comment. Famed investor David Tepper disclosed in February that his firm, Appaloosa, and some affiliates had purchased a 7% stake in Intelsat at an average price of over $5 per share. Intelsat’s problems could also be a loss for some large hedge funds that had bet on the company’s C-band gambit. “We see it as a sign that, in the Covid-19 economy, everyone is more worried about when they will be paid, and the ability of counterparties to make good on their payments.” “We don’t see the conversation as suggesting any material change in direction by the FCC or the companies,” New Street Research analyst and former FCC official Blair Levin wrote in a report over the weekend. Intelsat, which also provides satellite communications to airplanes and ships, is suffering from the coronavirus economic slowdown, as well. The FCC has scheduled the C-band auction to start in December, though the date could be delayed by the COVID-19 outbreak. So instead of profiting by tens of billions of dollars, Intelsat now will likely get at most $5 billion and might have to spend several billion dollars before the auction to prepare for the sale, though those costs would ultimately be reimbursed. ![]() That led the FCC at the end of February to adopt an order mandating a government-run auction of the C-band airwaves, which will delay and greatly limit payments to Intelsat and its rivals. Among current C-band holders, Intelsat and SES are legally based in Luxembourg, Telesat is Canadian, and Eutelsat Communications is based in France. Analysts said such a sale could bring $30 billion to $50 billion in bids from telecom companies desperate for more airwaves to use for superfast 5G service.īut the plan ignited heated and bipartisan opposition in Congress to letting foreign-based satellite companies collect such huge sums. The rapid financial demise comes after the Federal Communications Commission rejected a plan from Intelsat and other satellite communications companies to let them directly sell spectrum known as the C-band to wireless carriers that could use the airwaves for 5G networks. The company had earlier hired investment bank PJT Partners and law firm Kirkland & Ellis for a possible filing, Bloomberg noted. The company, responsible for transmitting most programming for cable and broadcast networks across the country with its satellites, is lining up financing known as a debtor-in-possession loan, used to maintain operations during a Chapter 11 bankruptcy, Bloomberg reported on Tuesday.
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