{"id":25277,"date":"2020-05-14T12:08:27","date_gmt":"2020-05-14T12:08:27","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=280916"},"modified":"2020-05-14T12:08:27","modified_gmt":"2020-05-14T12:08:27","slug":"intelsat-follows-oneweb-into-chapter-11","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/05\/14\/intelsat-follows-oneweb-into-chapter-11\/","title":{"rendered":"Intelsat follows OneWeb into Chapter 11"},"content":{"rendered":"

<\/p>\n

\tIntelsat became the latest satellite service provider to file for Chapter 11 bankruptcy protection in the US, a move made as part of a broader financial restructure to see it through troubled waters around the release of C-band spectrum to the government.<\/p>\n

In a statement, Intelsat said the process will likely result in a \u201csubstantial reduction\u201d of its legacy debt burden, while delivering an estimated $1 billion in funding needed to adhere to a Federal Communications Commission (FCC) order to free-up a total of 280MHz of spectrum [1] in the 3.7GHz to 4.2GHz bands for 5G services.<\/p>\n

Intelsat said it had already secured a commitment around this financing as part of its restructure: it stands to to receive $4.87 billion in relocation payments from the FCC relating to the spectrum move.<\/p>\n

Stephen Spengler, Intelsat CEO, said: \u201cAt the end of this process, we will be on stronger financial footing for the future, further enhancing our industry-leading portfolio of space-based communications services and paving the way for our continued innovation and investments to benefit our customers\u201d.<\/p>\n

Rival OneWeb sought Chapter 11 protection [2] in late March, a move GSMA Intelligence noted raised questions around the LEO sector [3].<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/fcc-moves-toward-c-band-auction\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/oneweb-seeks-safe-harbour-as-covid-19-halts-finance\/
\n[3] https:\/\/www.mobileworldlive.com\/blog\/intelligence-brief-how-will-oneweb-collapse-impact-the-future-of-leo-satellites\/<\/p>\n\n

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Intelsat became the latest satellite service provider to file for Chapter 11 bankruptcy protection in …<\/p>\n

The post Intelsat follows OneWeb into Chapter 11<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":212,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"Intelsat follows OneWeb into Chapter 11 - ITTeacherITFreelance.hk","description":"Intelsat became the latest satellite service provider to file for Chapter 11 bankruptcy protection in ... The post Intelsat follows OneWeb into Chapter 11 appea"},"footnotes":""},"categories":[11,8],"tags":[3506],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/25277"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/212"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=25277"}],"version-history":[{"count":1,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/25277\/revisions"}],"predecessor-version":[{"id":25278,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/25277\/revisions\/25278"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=25277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=25277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=25277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}