September 2008
A monthly round-up of space industry developments for the information of our clients and friends.
DIRECTV and Iridium Transactions September Launch Services On September 3, Liberty Media Corporation On September 6, Boeing Launch Services announced that it is planning to spin off its Inc. successfully launched the GeoEye-1 50% interest in the DirecTV Group and other satellite for GeoEye Inc. from Vandenberg assets, including Starz Entertainment, Air Force Base in California on a Delta II Liberty Sports Holdings and stakes in GSN rocket procured from United Launch and WildBlue Communications Inc., into a Alliance. Built by General Dynamics new public company named the Liberty Advanced Information Systems, GeoEye-1 Entertainment Group. The transaction, which is capable of simultaneously acquiring 0.41- has been anticipated by industry analysts, meter panchromatic and 1.65-meter could eventually lead to Liberty Entertainment multispectral spatial imagery. On September and DirecTV being merged into one trading 20, the Nimiq 4 satellite was successfully entity. Iridium Holdings LLC and GHL orbited by International Launch Services Acquisition Corp. (a special purpose from the Baikonur Cosmodrome in acquisition company sponsored by Greenhill Kazakhstan on a Proton Breeze M vehicle. & Co., Inc.) jointly announced on September Built for Telesat by EADS Astrium using a 24 the signing of a definitive merger Eurostar E3000 platform, the spacecraft agreement. The transaction values Iridium at weighed approximately 5,000 kg at launch and approximately $591m; with current Iridium is equipped with 32 Ku-band and 8 Ka-band holders receiving $77m in cash and 36m transponders designed to provide direct-to- shares in the combined company, to be home television services throughout Canada renamed Iridium Communications Inc. from the 82°WL orbital location. On GHL’s remaining cash position of $324m will September 25, the Sea Launch Company be used to pay down Iridium’s $131m in debt successfully deployed the Galaxy 19 and to fund the development of the Iridium communications satellite for Intelsat Ltd. from NEXT follow-on global satellite constellation. the Odyssey Launch Platform situated on O3b Contract Awards the Equator, using a Zenit-3SL vehicle. Built On September 9, Thales Alenia Space by Space Systems/Loral based on its 1300 announced its selection by O3b Networks platform, this high-power C-band and Ku- Space Business Review Limited (O3b) to build 16 communications band satellite is equipped with 52 satellites designed to provide high-speed, transponders and will provide low-latency Internet backhaul to developing communications services to customers countries in Asia, Africa, Latin America and throughout the United States, Canada, the Middle East at speeds of between 1 Mbps Mexico and the Caribbean from the 97°WL and 10 Gbps with a combined total capacity orbital location. The Russian Federal Space in excess of 160 Gbps. O3b has received Agency announced on September 25 that support and funding from Google, Inc., three GLONASS-M navigation satellites, part Liberty Global, Inc. and HSBC Principal of the Russian equivalent to the GPS system, Investments. On September 23, Sea were placed into Medium Earth Orbit by a Launch Company announced that it will Proton-M vehicle from the Baikonur launch O3b’s satellite constellation in two sets Cosmodrome in Kazakhstan. On September of eight satellites each using the Zenit-3SL 29, Space Exploration Technologies Corp. vehicle, with the first launch scheduled for reported that the fourth launch attempt of its late 2010. Falcon 1 vehicle from the Kwajalein Atoll in the Pacific was a success, with a precise WildBlue Secures $50m Funding orbital insertion of a test payload. On September 4, WildBlue Communications Inc. announced the Arianespace Buys 10 Soyuz Vehicles completion of a $50m equity financing round On September 20, Arianespace announced led by Liberty Media Corporation, Intelsat, a contract to acquire from the Russian space the National Rural Telecommunications agency Roskosmos ten Soyuz ST launch Cooperative and Kleiner, Perkins, Caufiled vehicles (three stages, fairing and Fregat and Byers. The proceeds will allow WildBlue upper stage components). These Soyuz vehicles will be launched from either the BEIJING to expand its services, including customer FRANKFURT care and field service operations, and fund Guiana Space Center in French Guiana or HONG KONG the company’s customer equipment leasing the Baikonur Cosmodrome in Kazakhstan, LONDON program. starting in the second half of 2009. LOS ANGELES MUNICH To learn about Milbank’s Space Business Practice, or view previous issues of the Space Business Review, please visit www.milbank.com. 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