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Nov 24 (Reuters) - Loral Space & Communications Inc <LORL.O>::LORAL ENTERS INTO AGREEMENT WITH PSP INVESTMENTS AND TELESAT TO COMBINE LORAL AND TELESAT INTO A NEW PUBLIC COMPANY.LORAL SPACE & COMMUNICATIONS - STOCKHOLDERS NOT AFFILIATED WITH FUNDS MANAGED BY MHR FUNDS TO OWN 26.1% OF ECONOMIC INTERESTS IN NEW TELESAT.LORAL SPACE & COMMUNICATIONS INC - NEW TELESAT SHARES WILL INITIALLY BE LISTED ON NASDAQ GLOBAL SELECT MARKET.LORAL SPACE & COMMUNICATIONS INC - NEW TELESAT IS ALSO CONSIDERING A LISTING FOR ITS SHARES ON A CANADIAN STOCK EXCHANGE.LORAL - NEW TELESAT'S GOVERNANCE PROVISIONS WILL CONTAIN SPECIAL FEATURES DESIGNED TO MAINTAIN MAJORITY CANADIAN BOARD AND VOTING CONTROL.LORAL SPACE & COMMUNICATIONS - STOCKHOLDERS IN CO, PSP INVESTMENTS SHAREHOLDERS OF TELESAT, TO OWN EQUITY IN NEW TELESAT ABOUT SAME AS OWNERSHIP IN TELESAT.LORAL SPACE & COMMUNICATIONS -MHR FUNDS, PSP INVESTMENTS, MANAGEMENT SHAREHOLDERS OF TELESAT OWN 36.6%, 36.7%, 0.7%, OF ECONOMIC INTERESTS IN NEW TELESAT.LORAL - EXPECT CO'S U.S. HOLDERS THAT ELECT FOR LIMITED PARTNERSHIP UNITS OF TELESAT PARTNERSHIP IN LIEU OF GETTING SHARES WILL DO SO ON TAX DEFERRED BASIS.LORAL - EXCHANGE OF LIMITED PARTNERSHIP UNITS OF TELESAT PARTNERSHIP FOR SHARES OF NEW TELESAT ANTICIPATED TO BE TAXABLE TRANSACTION TO U.S. HOLDERS.LORAL SPACE & COMMUNICATIONS INC - BOARD ADOPTED SHAREHOLDER RIGHTS PLAN; SET TRIGGER AT 15%.
Nov 15 (Reuters) - C-Band Alliance::C-BAND ALLIANCE, COMPRISED OF INTELSAT, SES, AND TELESAT, SAYS FILED WITH FEDERAL COMMUNICATIONS COMMISSION ITS TREASURY CONTRIBUTION PROPOSAL.C-BAND ALLIANCE - CONTRIBUTION PROPOSAL STATES THAT IF PROPOSAL ADOPTED, CBA COMMITS TO PAY PORTION OF NET PROCEEDS OF CBA-LED AUCTION TO U.S. TREASURY.
April 16 (Reuters) - Telesat Canada [RIC:RIC:PSPENC.UL]::TELESAT CANADA ANNOUNCES PRELIMINARY REVENUE AND ADJUSTED EBITDA FOR THE QUARTER ENDING MARCH 31, 2018.TELESAT CANADA - FOR QUARTER ENDING MARCH 31, CO EXPECTS TO REPORT COMPARATIVE REVENUES OF $233 MILLION TO $236 MILLION VERSUS REPORTED REVENUE OF $235 MILLION LAST YEAR.TELESAT CANADA - FOR QUARTER ENDING MARCH 31, 2018, EXPECTS COMPARATIVE ADJUSTED EBITDA(1) OF ABOUT $190 TO $192 MILLION VERSUS ADJUSTED EBITDA(1) OF $192 MILLION LAST YEAR.
July 25 (Reuters) - Telesat Canada [RIC:RIC:PSPENC.UL]:Telesat reports results for the quarter ended june 30, 2017.Quarterly revenue fell 3 percent to C$226 million.Telesat Canada says at June 30, 2017 had contracted backlog for future services of about $3.9 billion.Telesat Canada says at june 30, 2017 fleet utilization was 94% for Telesat's North American fleet and 64% for Telesat's international fleet.
Loral Space & Communications Inc:Says trial court on Aug. 8 issued decisions on post-trial motions filed in breach of contract and patent infringement lawsuit brought by ViaSat, Inc. (ViaSat) against Loral and Loral's former subsidiary, Space Systems/Loral, LLC.Says finding that the jury's damages award resulted in a miscarriage of justice, vacated in full the $283 mln jury verdict against SSL.Says court ordered that new jury trial be held on the amount of damages and has tentatively scheduled the trial to proceed in Nov. 2014.Says court deferred, until Aug. 26, argument on ViaSat's motion seeking an injunction to prevent the manufacture and sale by SSL of additional satellites that infringe ViaSat's patents.
Loral Space and Communications Inc:Says that jury in the trial of the lawsuit with ViaSat, Inc. returned a verdict against Loral's former subsidiary, Space Systems/Loral, LLC (SSL).The jury found that SSL infringed the patents asserted by ViaSat in the case and also that SSL breached certain non-disclosure agreements with ViaSat.Damages of $283 million were awarded against SSL.The jury also found that Loral was not liable for either patent infringement or breach of contract.
Loral Space and Communications Inc reported in its Form 8-K that on March 15, 2013, the Board of Directors of the Company (Board) approved the termination of the employment of Harvey B. Rein as Senior Vice President and Chief Financial Officer (CFO) effective as of March 15, 2013. On March 15, 2013, the Board appointed John Capogrossi as Chief Financial Officer (CFO) and Treasurer of the Company effective as of March 15, 2013, replacing Mr. Rein and Mr. Stack in those positions, respectively.
Loral Space and Communications Inc reported in its Form 8-K that in connection with the corporate office restructuring, on December 13, 2012, the Board of Directors of the Company (Board) approved the termination of the employment of Michael B. Targoff as Chief Executive Officer (CEO) and President effective as of December 14, 2012. In connection with the corporate office restructuring, on December 13, 2012, the Board appointed Avi Katz as President of the Company effective as of December 14, 2012, replacing Mr. Targoff in that position. Mr. Katz, 53, will continue to serve as General Counsel and Secretary.
Loral Space and Communications Inc announced that board of directors has named Avi Katz, 53, to the role of president of the Company. Mr. Katz, who replaces Michael Targoff, was formerly the company's senior vice president, general counsel and corporate secretary. The appointment comes as a result of the previously announced restructuring following last month's sale of the Company's manufacturing division. Mr. Katz will also continue in his role as general counsel and secretary.
Loral Space and Communications Inc announced that the Board of Directors has declared a special distribution of $29.00 per share for an aggregate distribution of up to $899.3 million. The distribution is payable on December 4, 2012 to holders of record of Loral voting and non-voting common stock as of November 19, 2012.
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