Iridium phone project maps an upscale orbit
Article Abstract:
Iridium, a 14-nation communication consortium, plans to launch the first three satellites of its 66-satellite global-telephone network on Jan 10, 1997, from Vandenberg Air Force Base in CA. Iridium is also shifting the direction of its $5 billion program by targeting a higher-end market, while altering its technology offerings from its original focus of a single satellite-based service to a variety of phone and communication services. Iridium's new plans will include marketing pagers and mobile phones that will be linked through a low Earth-orbit satellite network and ground stations. Iridium's wealthy target market will rely on it for services including call routing, caller identification and billing. Iridium will also offer less expensive phone systems to international air and sea consumers than their current communications providers. Iridium expects its new strategy to attract investors as well as provide revenue to help fund its approximate $100 million monthly expenditures.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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ICO files to sell initial offering of stock, notes
Article Abstract:
ICO Global Communications Holdings Ltd. filed for an initial public offering of $100 million of ordinary shares. The international consortium plans to offer satellite based mobile communications starting in 2000. The London based company is building a $4.5 billion network of 10 medium satellites with the capability of providing mobile phone calls to or from any point on the planet. The first satellite is scheduled to be launched in December 1998.
Comment:
Filed for initial public offering of $100 million of ordinary shares
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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