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News briefs: November 6
Posted: Wed, Nov 7, 2001, 8:05 AM ET (1305 GMT)
  • Lockheed Martin announced Tuesday that it will take a $420 million writeoff in the fourth quarter to cover its investment in troubled broadband satellite venture Astrolink. The company said last week that it will not provide additional funding for the venture, raising concerns that Astrolink may soon shut down. Heightening those concerns was a report by ViaSat that Astrolink had terminated two contracts for satellite components. Lockheed Martin said the writeoff will be offset by accounting changes.
  • The National Imagery and Mapping Agency renewed Tuesday a monthly contract with Space Imaging, giving NIMA exclusive access to images of the Afghanistan region taken by Space Imaging's Ikonos spacecraft. The renewal, good through December 5, is valued at $1.91 million. NIMA reached a deal with Space Imaging last month in part to keep Ikonos' high-resolution images from being purchased by the news media or other interested parties.
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