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Business briefs: August 8
Posted: Fri, Aug 9, 2002, 7:57 AM ET (1157 GMT)
- Satellite operator Eutelsat plans to acquire the Stellat satellite venture, Space News reported Thursday. Stellat is a joint venture of France Telecom and EuropeStar; France Telecom will acquire EuropeStar's 30 percent share of Stellat before selling the full company to Eutelsat for a net gain of 180 million euros (US$175 million). Stellat's first spacecraft, Stellat 5, was launched last month, providing Ku- and C-band service to portions of Europe, Africa, and eastern North America.
- A leading Defense Department official said Thursday that there should be no major roadblocks to a merger between Northrop Grumman and TRW, Reuters reported. Edward Aldridge, undersecretary of defense, said they had found no "show stoppers" that cause them not to approve the merger. The only concern was to make sure the merged company would continue to offer sensors and other spacecraft payloads to other companies, such as Lockheed Martin and Boeing.
- PanAmSat announced this week new video services designed to take advantage of its extensive satellite fleet. The Video on Demand and Digital Store and Forward services are intended for the company's core video customers, who provide the majority of PanAmSat's revenues.
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