Motorola drops plan for its own data satellites
Article Abstract:
Motorola announced an investment of around $750 million in Teledesic in exchange for 26% of the satellite network project, which plans to deliver high-speed Internet access from the skies. The move also represents a Motorola departure from building its own $12.9 Celestri billion satellite network for high-speed data communications. Motorola, which supplants Boeing as Teledesic's main partner, could save billions of dollars amid a growing but uncertain data services market. Microsoft Chmn William H. Gates and cellular phone pioneer Craig O. McCaw founded Teledesic in 1993, and the project intends to build 288 advanced satellite that can deliver broadband access to data services including the Internet in 2003. Teledesic's low earth orbit (LEO) satellites would operate only around 850 miles above earth, compared to geostationary satellites's high orbit of approximately 22,000 miles.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Teledesic faces challenges on satellite plan
Article Abstract:
Teledesic has hired Boeing as its lead contractor to design, build and launch over 250 advanced communication satellites in an estimated $9 billion deal. The first of the satellites is not scheduled to be sent into orbit however until the year 2001. Boeing is investing $100 million in return for 10% of the company, but analysts estimate Teledesic still has less than 10% of the capital it needs. Boeing is attempting to expand into communications and space technology and to reduce its dependance on the commercial aircraft market. The contract announcement resulted in Boeing's shares rising $2.375 to close at $98.625 on the New York Stock Exchange. Teledesic was granted its first approval for the FCC in Mar 1997, but warned it would also have to obtain approval from regulators in other countries as well.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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A blast heard across an aerospace industry
Article Abstract:
The recent explosion of Boeing Company's Delta 3 rocket after its launch from Cape Canaveral, Florida was a blow not only to Boeing, but also to Hughes Electronics, which made the destroyed communications satellite. Panamsat Corporation, which had planned to utilize the destroyed satellite, was also stunned by the explosion. Sales of commercial satellite launches in the United States, according to the Aerospace Industries Association, increased from $295 million in 1993 to $940 million in 1997.
Comment:
The recent explosion of Boeing Co.'s Delta 3 rocket after its launch from Cape Canaveral, Fla., was a massive blow
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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