Monday, June 19, 2006

FCC Approves Intelsat-PanAmSat Merger

The FCC approved the pending merger of Intelsat and PanAmSat. The transaction was unopposed.

Upon completion of the transaction, PanAmSat will become an indirect wholly-owned subsidiary of Intelsat. Post-merger, PanAmSat and its subsidiaries will continue as separate corporate entities.

Intelsat is an FSS operator that owns and operates a global satellite system providing end-to-end network services to telecommunications operators, corporate network integrators, governments, Internet service providers, and broadcasters around the world. Intelsat primarily serves the voice, data, and interconnectivity requirements of telecommunications and government customers. PanAmSat is an FSS provider that serves the video market in North America and Latin America and provides satellite services elsewhere in the world.

The Commission conditioned its approval on Intelsat's compliance with certain national security and law enforcement commitments and undertakings Intelsat made to the U.S. Department of Justice, including the Federal Bureau of Investigation, and the U.S. Department of Homeland Security.

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