About: http://data.cimple.eu/news-article/39ec8db55a1c6937bff52df7f90e846d09639642de4dfd64563f64e4     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

AttributesValues
rdf:type
schema:articleBody
  • Global satellite operator Intelsat filed for bankruptcy protection on Thursday, citing disruption from to its business from the virus pandemic, in a move aimed at restructuring its operations. The filing in US bankruptcy court in Virginia listed more than $16 billion in debt. The company said in a statement it was "managing the economic slowdown impacting several of its end markets caused by the COVID-19 global health crisis." It said bankruptcy protection would help it restructure its balance sheet as it reorganizes operations, and that business would continue during this process. The company is scheduled to receive $4.87 billion for exiting the C-band required by the US Federal Communications Commission for 5G, or fifth generation wireless networks in the United States. But it needs to spend more than $1 billion on "clearing activities" before receiving any payments. "This is a transformational moment in the history of our company," said chief executive Stephen Spengler. "This will position us to invest and pursue our strategic growth objectives, build on our strengths, and serve the mission-critical needs of our customers with additional resources and wind in our sails." Intelsat, originally formed to promote global satellite communications in the 1960s and later privatized, operates more than 50 geostationary satellites as rival operators move to new space-based systems for internet communications. rl/caw/
schema:headline
  • Intelsat files for bankruptcy, seeks to restructure
schema:mentions
schema:author
schema:datePublished
http://data.cimple...sPoliticalLeaning
http://data.cimple...logy#hasSentiment
http://data.cimple...readability_score
http://data.cimple...tology#hasEmotion
Faceted Search & Find service v1.16.115 as of Oct 09 2023


Alternative Linked Data Documents: ODE     Content Formats:   [cxml] [csv]     RDF   [text] [turtle] [ld+json] [rdf+json] [rdf+xml]     ODATA   [atom+xml] [odata+json]     Microdata   [microdata+json] [html]    About   
This material is Open Knowledge   W3C Semantic Web Technology [RDF Data] Valid XHTML + RDFa
OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 11 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software