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Author Topic: Satellite operator Intelsat files for Chapter 11 bankruptcy  (Read 142 times)
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« on: May 16, 2020, 06:11:41 PM »

Satellite operator Intelsat files for Chapter 11 bankruptcy

The move helps Intelsat join an FCC C-band clearing program.

FROM: SPACE.COM
By Tariq Malik 2 days ago



Satellite operator Intelsat, which launched the world's first commercial communications satellite Intelsat 1 in 1965, filed for Chapter 11 bankruptcy Wednesday (May 13) in order to ease a multibillion-dollar debt and join an FCC spectrum clearing program.

In a statement Wednesday, Intelsat representatives said the bankruptcy filing was spurred, in part, by the company's plan to join the FCC's accelerated clearing of the C-band spectrum to make way for faster 5G wireless satellite communications.

"To meet the FCC's accelerated clearing deadlines and ultimately be eligible to receive $4.87 billion of accelerated relocation payments, Intelsat needs to spend more than $1 billion on clearing activities," Intelsat wrote in the statement. "These clearing activities must start immediately, ......................


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