spacetoday.net: Intelsat completes acquisition of PanAmSat

Posted: Tue, Jul 4, 2006, 1:41 PM ET (1741 GMT)
Satellite operator Intelsat announced Monday that it has completed its acquisition of one-time rival PanAmSat, creating the world's largest satellite communications company. The $6.4-billion deal, announced in August 2005, received all the required regulatory approvals earlier this year. The merged company is the largest provider of fixed satellite services worldwide, with 51 satellites and a combined $2 billion a year in revenue, although the combined company is not profitable. The integration process of Intelsat and PanAmSat will continue for the next 18 months, with PanAmSat as a wholly-owned subsidiary of Intelsat.