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Loral Satellite Sale Gains U.S. Approval - Broadcasting & Cable

Loral Satellite Sale Gains U.S. Approval

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Intelsat Ltd. won Federal Communications Commission approval to buy six telecommunications satellites from Loral Space & Communications Ltd.

The license transfers are the last regulatory step in Intelsat’s $1.1-billion purchase of Loral’s North American satellite business.

Next on Intelsat’s list, completing a $500 million initial public offering by the end of June that the FCC ordered as a way to dilute holdings of the government signatories that founded the former international consortium. Intelsat privatized in 2001.

Intelsat and Loral provide broadcasters and cable TV networks long-distance transmissions of programming.

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