Satellite-data firm hopes to prove it's no pie in the sky; Teledesic says it's close to getting FCC license for celestial Internet
Article Abstract:
Teledesic Corp is determined to see its goal of establishing more than 840 satellites throughout the world realized. Towards that end, Teledesic must accomplish the nearly impossible task of constructing one satellite per day for $5.5 million each. The company's strategy for meeting internal demands is to develop a 'virtual corporation' staffed by teams from Teledesic, along with employees from each of Teledesic's design centers. Each group will devise the goals of its respective organization and execute plans of how to complete projects. This design center is the company's biggest challenge, and will allow it to stay within its current staffing restrictions of 200 employees. Another pending challenge to the company is the long-delayed operating licence expected from the FCC in 1997. The company's two backers, Craig O. McCaw and Bill Gates, have proven their support by doubling their respective investments in the program, increasing their company holdings to 37.6% each.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1996
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Teledesic and Boeing strike a deal on satellite network, investment
Article Abstract:
Teledesic has hired Boeing to build a $9 billion satellite network for high-speed video and data communications. Boeing has been named the prime contractor in exchange for investing up to $100 million, which gives them a 10% stake in the Teledesic. Analysts view Boeing's involvement in the company as a validation for Teledesic. The satellite constellation Teledesic is planning is over three times the size of any other satellite constellation in the world. Boeing's deal with Teledesic is contingent on the company securing additional funding. Teledesic's chairman Craig McCaw has invested, as has Microsft Chmn Bill Gates. The company is looking for additional investors and is considering a public offering, but it has no customers yet for its service.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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Motorola to take 26% stake in Teledesic
Article Abstract:
Motorola Inc. will invest $750 million in cash and design technology to acquire a 26% stake in Teledesic LLC, to participate in the design and contruction of a $9 billion "Internet in the sky." In so doing, Motorola will probably curtail work on Celestri, its 63-satellite high-speed-data system, or integrate it into Teledesic's project. Other investors in Teledesic include Boeing Co., Microsoft Inc., and AT&T Corp.
Comment:
Schaumburg, Ill. co. buys a 25% interest in the multi-satellite communications firm, Teledesic
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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