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Liberty Satellite, Intelsat, and NRTC Lead $156 Million Investment in Wildblue
Denver - Jan 10, 2003 Satellite broadband hopeful WildBlue Communications announced in late December that Liberty Satellite & Technology, Inc. (LSAT), Intelsat, National Rural Telecommunications Cooperative (NRTC), Kleiner Perkins Caufield & Byers, and David Drucker, WildBlue's chairman, have agreed to invest $156 million in the company. Liberty Satellite, Kleiner Perkins and David Drucker are existing shareholders. Intelsat and NRTC are new investors in WildBlue and will join the board of directors as part of this investment. This transaction is subject to WildBlue meeting certain conditions, including FCC approvals. WildBlue expects the investment to close in the second quarter of 2003. "This large investment in WildBlue, in the face of tough financial markets, is a strong endorsement of WildBlue's business model and ability to revolutionize wireless broadband. WildBlue will change the consumer broadband market making affordable high-speed Internet access available to virtually every home and small business in the contiguous United States," said Thomas Moore, chief executive officer of WildBlue. "When this transaction closes, we will be able to complete our investment in the space and ground infrastructure to allow us to launch our service in 2004." WildBlue will deliver affordable two-way wireless broadband services via satellite, direct to homes and small offices, throughout the contiguous United States in 2004. WildBlue is expected to be the first to launch the Ka-band spot beam satellite technology designed to lower the cost of providing consumers high-speed Internet access via satellite. The WildBlue system also will leverage proven terrestrial cable modem technology, resulting in lower customer equipment and installation costs, a critical requirement in satellite-based consumer services. WildBlue's service should be especially appealing to the millions of homes and small offices that lack access to DSL or cable modem service. WildBlue initially will offer its services using its license for the U.S. Ka-band payload aboard Telesat Canada's Anik F2 satellite, being built by Boeing and scheduled to launch in late 2003 into the 111.1 degrees WL orbital location. Based on future financing, WildBlue plans to subsequently launch its own satellite, WildBlue-1, being manufactured by Loral Space Systems, into WildBlue's 109.2 degrees WL orbital location. Andrew Corporation has been contracted to construct WildBlue's earth gateways. "We believe that retail satellite broadband services in North America will be an important component of future growth in the fixed satellite services industry," said Conny Kullman, CEO of Intelsat, Ltd. "Millions of rural residents and small offices have no access to high-quality, affordable broadband service comparable to that available in urban areas. We have great confidence in WildBlue's strategic plan and believe it represents a key opportunity for Intelsat to capitalize on this market gap." "NRTC is making this investment in a technology platform to serve rural America with advanced telecommunication services," said Bob Phillips, NRTC president and chief executive officer. "We are confident that WildBlue is the best solution to deliver affordable high-speed Internet access to rural America. A solid and loyal distribution network will be key to a successful WildBlue rollout. And we are pleased to bring the proven experience of our rural electric and telco members in distributing satellite-delivered services to this effort." "Intelsat, Liberty Satellite, and NRTC are three of the most important strategic relationships we could have chosen. WildBlue is especially pleased to strengthen our partnership with existing investor Liberty Satellite, and to begin our relationships with Intelsat, the world's premier satellite services provider, and NRTC, the foremost distribution partner for rural America," said Thomas Moore, WildBlue CEO. In addition to the new investors, WildBlue's strategic investors include TeleSat; EchoStar; Gemstar - TV Guide; TRW; and Arianespace. Community Email This Article Comment On This Article Related Links WildBlue Communications Liberty Satellite & Technology Intelsat National Rural Telecommunications Cooperative SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express Satellite Constellation - multiple satellite deployments in LEO and Beyond
XM Canada Launches Canada's First Satellite Radio Service
Toronto ON (SPX) Nov 24, 2005XM Canada Tuesday announced the launch of Canada's first satellite radio service with an exclusive offer to its Founders Club members to purchase XM satellite radios and sign-up for service on-line starting Tuesday. |
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