{"id":88213,"date":"2009-11-02T18:23:01","date_gmt":"2009-11-02T10:23:01","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/intelsat-wins-protostar-1-auction-for-210-milllion\/"},"modified":"2009-11-02T18:23:01","modified_gmt":"2009-11-02T10:23:01","slug":"intelsat-wins-protostar-1-auction-for-210-milllion","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/intelsat-wins-protostar-1-auction-for-210-milllion\/","title":{"rendered":"Intelsat Wins ProtoStar 1 Auction for $210 Milllion"},"content":{"rendered":"<p>[11-02-09] <strong>Intelsat<\/strong> won the bidding for the ProtoStar 1 satellite, the operator announced Oct. 30.<br \/>\n&nbsp;&nbsp;&nbsp; Intelsat will pay $210 million in cash for ProtoStar 1 and will rename the satellite Intelsat 25. The spacecraft was placed on the auction block following <strong>Protostar<\/strong>\u2019s bankruptcy filing in July. <br \/>\n&nbsp;&nbsp;&nbsp; \u201cThe additional inventory will support future revenue growth and provide resilience. Over the past several years we have enjoyed strong demand for our services in Africa, and this capacity will allow us to support the growth requirements of our customers, including wireless operators and broadband service providers. Because of our operating scale and collection of valuable orbital locations, we will be able to integrate and operate Intelsat 25 with minimal incremental cost, and rapidly build a backlog of revenue for the new satellite,\u201d Intelsat Vice President and General Counsel Phillip Spector said in a statement.<br \/>\n&nbsp;&nbsp;&nbsp; Protostar will auction its other satellite, Protostar 2, in December.<\/p>\n<h2>Related Stories-<\/h2>\n<p>\n<b class=\"titlelink\">ProtoStar to Sell Satellites, Operate Through Bankruptcy<\/b>&nbsp;&nbsp; \t\t\tSatellite Today&nbsp;&nbsp; \t\t\tAugust 4, 2009<br \/>\n[08-04-09] ProtoStar has reached an agreement with its principal lender groups after filing July 29 for Chapter 11 bankruptcy protection in the United States and Bermuda, the company announced Aug. 3.<\/p>\n<p><b class=\"titlelink\">Industry Reacts to ProtoStar Bankruptcy<\/b>&nbsp;&nbsp; \t\t\tSatellite Today&nbsp;&nbsp; \t\t\tJuly 31, 2009<br \/>\n[08-01-09] Satellite industry officials and analysts believe the post-bankruptcy sale of ProtoStar satellites will draw interest from multiple parties. <\/p>\n<p><b class=\"titlelink\">ProtoStar Files for Chapter 11 Bankruptcy Protection<\/b>&nbsp;&nbsp; \t\t\tSatellite Today&nbsp;&nbsp; \t\t\tJuly 29, 2009<br \/>\n[07-29-09] ProtoStar and its five affiliates have filed for Chapter 11 bankruptcy protection, the U.S. Bankruptcy Court of Deleware confirmed. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>[11-02-09] Intelsat won the bidding for the ProtoStar 1 satellite, the operator announced Oct. 30. &nbsp;&nbsp;&nbsp; Intelsat will pay $210 million in cash for ProtoStar 1 and will rename the satellite Intelsat 25. The spacecraft was placed on the auction block following Protostar\u2019s bankruptcy filing in July. &nbsp;&nbsp;&nbsp; \u201cThe additional inventory will support future revenue [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-88213","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/88213"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=88213"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/88213\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=88213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=88213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=88213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}