Intelsat (INTEQ)

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m22au

Press release
"Intelsat Files Plan of Reorganization with the Support of Key Creditor Groups"
https://www.businesswire.com/news/h...ation-with-the-Support-of-Key-Creditor-Groups

Court hearing to approve disclosure statement March 17
Plan to emerge from chapter 11 in 2H of 2021.

Bloomberg article

"Bankrupt Intelsat Files Restructuring Plan to Halve Debt"
https://www.bloomberg.com/news/arti...-files-restructuring-plan-to-cut-debt-by-half

Link from Bloomberg article to disclosure statement:
https://ecf.vaeb.uscourts.gov/doc1/188137398396

Intelsat Jackson unsecured debt holders will receive 95% of the company’s new shares
ICF holders would get 3.043% of new shares
LuxCo holders would get 1.957% of new shares
Unsecured creditors will also be entitled to warrants to purchase additional equity.

"Holders of Interests may receive a de minimis Cash payment in lieu of any fractional interest retained."

Terms used in the chapter 11 plan:
"Jackson Unsecured Recovery" (classes B1 and C1)
"ICF Unsecured Recovery" (class D1)
"LuxCo Unsecured Recovery" (class F1)
Class J3 — Interests in Intelsat

Web site for Intelsat chapter 11 case
https://cases.stretto.com/intelsat

Docket 1467
Chapter 11 plan
https://cases.stretto.com/public/X070/10255/PLEADINGS/1025502122180000000052.pdf

Docket 1468
Disclosure statement
https://cases.stretto.com/public/X070/10255/PLEADINGS/1025502122180000000053.pdf


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https://twitter dot com/Michael_HRH/status/1360287426342699009

Page 22 of docket 1468
https://cases.stretto.com/public/X070/10255/PLEADINGS/1025502122180000000053.pdf

The Equity Issuer will issue 95% of the authorized but unissued New Common Stock to Holders of Allowed Jackson Unsecured Claims, 3.043%, to Holders of ICF Unsecured Claims, and 1.957% to Holders of LuxCo Unsecured Claims, each subject to dilution in accordance with the Dilution Principles set forth in the Plan.

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Thank you for the posts.

Wow! The biggest satellite operator in the world, used to be a monopoly. Still can't believe they couldn't make it.

Musk's StarLink better watch out.
 
Broadcast using satellites makes a lot of sense: from point to multi-point with unlimited households that can receive the signals. Zero marginal cost to add subs.

If Intelsat can't make it, I wish Elon/StarLink luck. Point to point makes very little sense when users are concentrated and bandwidth is very limited. StarLink's thousands of satellites will spend most of their time over oceans, thinly populated areas and at night where their capacities will be wasted. When they are over LA, NYC at peak hours, they can only provide very limited capacity and with no line of sight in NYC, the service will be hit or miss.
 
ironchef said:
Broadcast using satellites makes a lot of sense: from point to multi-point with unlimited households that can receive the signals. Zero marginal cost to add subs.

If Intelsat can't make it, I wish Elon/StarLink luck. Point to point makes very little sense when users are concentrated and bandwidth is very limited. StarLink's thousands of satellites will spend most of their time over oceans, thinly populated areas and at night where their capacities will be wasted. When they are over LA, NYC at peak hours, they can only provide very limited capacity and with no line of sight in NYC, the service will be hit or miss.
More...
Two completely different business segments.

Intelsat purchased and operated huge geosynchronous communications satellites that cost enormous fees to use. Those satellites maintain a fixed position above the Earth and have fixed coverage areas. They were used by the media, governments and international firms. In the last 20 years a lot of competitors have popped up and they all undercut Intelsat on fees.

StarLink is a low-Earth orbiting system with a lot of vehicles and constant hand-offs and dynamic coverage. The upside is that you can cover most of the Earth. The downside is that the kind of money that can afford StarLink service is limited geographically.

I worked on a previous attempt called Teledesic. We did a study and discovered that most of the money on Earth is in the northern hemisphere in a narrow band of latitudes. There just isn't money for satellite internet on most of the planet.
 
Snarkhund said:
Two completely different business segments.

Intelsat purchased and operated huge geosynchronous communications satellites that cost enormous fees to use. Those satellites maintain a fixed position above the Earth and have fixed coverage areas. They were used by the media, governments and international firms. In the last 20 years a lot of competitors have popped up and they all undercut Intelsat on fees.

StarLink is a low-Earth orbiting system with a lot of vehicles and constant hand-offs and dynamic coverage. The upside is that you can cover most of the Earth. The downside is that the kind of money that can afford StarLink service is limited geographically.

I worked on a previous attempt called Teledesic. We did a study and discovered that most of the money on Earth is in the northern hemisphere in a narrow band of latitudes. There just isn't money for satellite internet on most of the planet.
More...
StarLink and Teledesic have similar business model and technology. Do you think Elon can succeed if Craig & Bill failed?
 
ironchef said:
StarLink and Teledesic have similar business model and technology. Do you think Elon can succeed if Craig & Bill failed?
More...
Maybe.

Teledesic was 1997 and we couldn't get the vehicle thermal design to close. SpaceX seems to have solved the waste heat problem and has vehicles and flight operations infrastructure up and running so they have definitely got it going on.

One problem we ran into on Teledesic as I mentioned was that there wasn't much money outside of a narrow band of lats in the northern hemisphere. If SpaceX can control costs and overcome that problem of getting subscribers in developing countries I think they can succeed.

I assume you mean Craig McCaw. He showed up late when we were already failing and tried to pull it together. I liked him.
 
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I don't think the real revenue is in subscriber fee's.

The real money goes way beyond that.

Waaaay beyond that.

Regarding the "line of sight" thing mentioned earlier; NYC, LA, London, any densely populated area; its not a concern. They already have what they need. Musk isn't interested in disrupting that. Why would he be?

No, the real money is in making high speed internet available to billions of those who currently have none.

Elon can even give it away.

It's everything that comes next that ya'll are missing.

Control the pipes, control the money and the data that passes through those pipes, and only then will one see the power of global broadband. The access can be free. And make no mistake, the legacy providers who we all use right now, they'll die a slow. loud, agonizingly bitter death. Against their will. But they will die, and Musk will win in the end.

And when I say "Musk", its not just Elon.... he has a braintrust. A billionaire braintrust of seriously smart, forward thinking visionaries.

So... comparing Starlink to Intelsat is like comparing a Bakelite Western Electric phone with a rotary dial mechanism to an I-Phone 12.

Free broadband is like free razors.
It's the blades that'll generate gillions.

You guys are missing the bigger picture.

Elon and a few others... they aren't.
That's why they are... who they are.
-vz
 
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Thank you all for the coaching. Didn't realize there are so many techies hiding in a trading forum. :thumbsup::thumbsup::thumbsup:

As a die hard trader, I just need to find something tradable from your comments.
 
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