Business Wire IndiaIntelsat, operator of one of the world’s largest integrated satellite and terrestrial networks and leading provider of inflight connectivity, will receive nearly $3.7 billion in the fourth quarter after completing C-band frequency clearing, providing future strategic opportunities for the company and its shareholders.
“Intelsat’s C-band transition facilitates broader 5G services in the United States, while strengthening our financial position,” said Dave Wajsgras, CEO at Intelsat. “We reached this milestone well ahead of expectations, and I’m exceptionally proud of the Intelsat team and the hard work that led to this remarkable achievement.”
The FCC C-Band Transition Order set a deadline to clear the spectrum by December 2025 but offered incentive payments to satellite operators if cleared before December 2023. With the validated certification now complete, Intelsat will receive accelerated relocation payments totaling $3.67 billion.
“Half of these proceeds will be used to deleverage our balance sheet, consistent with our debt covenants, while the remainder provides Intelsat with various options to create value and opportunities for all of our stakeholders,” Wajsgras said. “The Intelsat team is well positioned to remain a leader in the satellite communications industry as we continue transforming the company for the future.”
About Intelsat
Intelsat’s global team of professionals is focused on providing seamless and secure, satellite-based communications to government, NGO and commercial customers through the company’s next-generation worldwide network and managed services. Bridging the digital divide by operating one of the world’s largest and most advanced satellite fleet and connectivity infrastructures, Intelsat enables people and their tools to speak over oceans, see across continents and listen through the skies to communicate, cooperate and coexist. Since its founding six decades ago, the company has been synonymous with satellite-industry “firsts” in service to its customers and the planet. Leaning on a legacy of innovation and focusing on addressing a new generation of challenges Intelsat team members now have their sights on the “next firsts” in space as they disrupt the field and lead in the digital transformation of the industry.
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Section 1.10.32 of "de Finibus Bonorum et Malorum", written by Cicero
in 45 BC
"Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium
doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore
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1914 translation by H. Rackham
"But I must explain to you how all this mistaken idea of denouncing pleasure and
praising pain was born and I will give you a complete account of the system, and
expound the actual teachings of the great explorer of the truth, the master-builder
of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it
is pleasure, but because those who do not know how to pursue pleasure rationally
encounter consequences that are extremely painful. Nor again is there anyone who
loves or pursues or desires to obtain pain of itself, because it is pain, but
because occasionally circumstances occur in which toil and pain can procure him some
great pleasure. To take a trivial example, which of us ever undertakes laborious
physical exercise, except to obtain some advantage from it? But who has any right to
find fault with a man who chooses to enjoy a pleasure that has no annoying
consequences, or one who avoids a pain that produces no resultant pleasure?"
1914 translation by H. Rackham
"But I must explain to you how all this mistaken idea of denouncing pleasure and
praising pain was born and I will give you a complete account of the system, and
expound the actual teachings of the great explorer of the truth, the master-builder
of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it
is pleasure, but because those who do not know how to pursue pleasure rationally
encounter consequences that are extremely painful. Nor again is there anyone who
loves or pursues or desires to obtain pain of itself, because it is pain, but
because occasionally circumstances occur in which toil and pain can procure him some
great pleasure. To take a trivial example, which of us ever undertakes laborious
physical exercise, except to obtain some advantage from it? But who has any right to
find fault with a man who chooses to enjoy a pleasure that has no annoying
consequences, or one who avoids a pain that produces no resultant pleasure?"