Teledesic suspends satellite plans
Posted: Thu, Oct 3, 2002, 8:13 AM ET (1213 GMT)
Broadband satellite company Teledesic announced Wednesday that it is suspending work on its first two satellites as it considers "alternative approaches" to its business. In January Teledesic signed a contract with satellite manufacturer Alenia Spazio for the construction of the first two spacecraft of a revamped 30-satellite system, barely meeting a deadline in Teledesic's FCC license. However, the company has since decided that it would not be "prudent" to continue given the current poor economic conditions, which co-CEO Craig McCaw described as "an unprecedented confluence of events in the telecommunications industry." Company officials said they are considering alternative options for the company; their press statement emphasized potential government uses for Teledesic's proposed broadband telecommunications system.
Broadband satellite company Teledesic announced Wednesday that it is suspending work on its first two satellites as it considers "alternative approaches" to its business. In January Teledesic signed a contract with satellite manufacturer Alenia Spazio for the construction of the first two spacecraft of a revamped 30-satellite system, barely meeting a deadline in Teledesic's FCC license. However, the company has since decided that it would not be "prudent" to continue given the current poor economic conditions, which co-CEO Craig McCaw described as "an unprecedented confluence of events in the telecommunications industry." Company officials said they are considering alternative options for the company; their press statement emphasized potential government uses for Teledesic's proposed broadband telecommunications system.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
Space Force picks 14 companies for GEO surveillance program
Posted: Sat, Apr 11 10:34 AM ET (1434 GMT) |
|
news links
|
|
Friday, April 17
ESA and Canada sign agreement on the exchange of classified information
ESA — 7:11 am ET (1111 GMT) Canada, ESA Sign Security Information Accord
Aviation Week — 7:09 am ET (1109 GMT) Update: SPACECOM move, incentives
Axios — 7:07 am ET (1107 GMT) Colorado Springs still vital to military space industry, leaders say, even after Space Command move
Colorado Public Radio — 7:07 am ET (1107 GMT) Lockheed Martin Secures $105 Million U.S. Space Force Contract to Advance GPS Ground Control Modernization
Lockheed Martin — 7:06 am ET (1106 GMT) |
