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
|
|
SpaceX sets Nov. 18 launch date for sixth Starship test flight
Posted: Sat, Nov 9 9:57 AM ET (1457 GMT) |
|
news links
|
|
Monday, November 25
Rocket Lab Successfully Launches Two Missions in Less Than 24 Hours
Rocket Lab — 5:15 am ET (1015 GMT) Start thinking about space tourism, Travel Counsellors agents told
Travel Weekly — 5:15 am ET (1015 GMT) Greater transparency will enhance space governance
Australian Strategic Policy Institute — 5:14 am ET (1014 GMT) Rural visionaries and space frontiers: How Terry Kilgore helped transform Virginia into a commercial space hub
Cardinal News — 5:14 am ET (1014 GMT) Colorado Springs named permanent home for 250 Delta 15 Space Force guardians, ahead of possible Space Command fight
Colorado Springs Gazette — 5:14 am ET (1014 GMT) |
