Intelsat considers buying New Skies
Posted: Sat, Aug 20, 2005, 10:28 AM ET (1428 GMT)
Satellite operator Intelsat is considering acquiring smaller rival New Skies, the Wall Street Journal reported Friday. The Journal, citing industry sources, said Intelsat was considering spending up to $1.3 billion to acquire Netherlands-based New Skies, which operates five communications satellites. New Skies was spun off from Intelsat in 1998 as part of Intelsat's privatization effort; US law prevented the two from merging until this year. Such a deal, industry sources speculate, could trigger a new round of consolidation in the communications satellite industry, which is suffering from considerable on-orbit overcapacity in some markets.
Satellite operator Intelsat is considering acquiring smaller rival New Skies, the Wall Street Journal reported Friday. The Journal, citing industry sources, said Intelsat was considering spending up to $1.3 billion to acquire Netherlands-based New Skies, which operates five communications satellites. New Skies was spun off from Intelsat in 1998 as part of Intelsat's privatization effort; US law prevented the two from merging until this year. Such a deal, industry sources speculate, could trigger a new round of consolidation in the communications satellite industry, which is suffering from considerable on-orbit overcapacity in some markets.
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