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PanAmSat (now owned by Intelsat)
Type Satellite communication
Founded 1984 (merged with Intelsat Corp. June 20, 2006)
Headquarters Greenwich, Connecticut
 USA
Industry Satellite communication
Website www.intelsat.com

The former PanAmSat Corporation founded in 1984 by Reynold (Rene) Anselmo, was a satellite service provider headquartered in Greenwich, Connecticut. It operated a fleet of communications satellites used by the entertainment industry, news agencies, internet service providers, government agencies, and telecommunication companies. Anselmo got the idea for PanAmSat from Martine Rothblatt, an independent communications lawyer in Washington, D.C., to whom he had turned to for advice regarding difficulties he was encountering in getting reasonably priced satellite transmission of his UHF-TV based Spanish International Network (SIN), with studios on 42nd Street in New York City. Rothblatt had written a business plan entitled PanAmSat for her MBA thesis at UCLA's Graduate School of Management and was seeking a financial backer. Anselmo partnered with Rothblatt on the PanAmSat project, with Anselmo providing financing and Rothblatt filing for approval from the Federal Communications Commission and lining up an initial satellite from RCA Astro-Electronics and a heavily discounted launch from Arianespace.

PanAmSat effectively broke the monopoly on international satellite communications which was held by Intelsat, an international treaty-based organization founded and owned by several countries including the United States. PanAmSat, led by Anselmo, successfully lobbied the United States Congress to permit it to operate globally, competing against Intelsat. PanAmSat (and Anselmo) became famous for full-page advertisements in the Wall Street Journal depicting Spot, the PanAmSat mascot, urinating on politicians' legs. The company's motto was "Truth and Technology Will Triumph Over Bullshit and Bureaucracy."

Following the death of Rene Anselmo in 1995[1], his widow Mary Anselmo controlled the company for a time. PanAmSat was sold to Hughes Electronics, a division of General Motors, in a $3 billion cash and stock deal. The satellite operations continued to be under PanAmSat with Hughes being the majority shareholder. In May 1997, Hughes Communication Galaxy merged with PanAmSat, adding 9 more satellites to its fleet. In 2003, News Corporation purchased Hughes Electronic's PanAmSat division and on April 24, 2004 sold PanAmSat to a consortium of private equity firms in an leveraged buyout including Kohlberg Kravis Roberts & Co. (KKR), Carlyle Group and Providence Equity Partners for $4.3 billion.

Contents

2004 leveraged buyout

KKR led the 2004 leveraged buyout by purchasing a 44% stake in the company. Carlyle and Providence each invested 27% with management representing the remainder of the equity. The consortium invested only $550 million in equity, financing the remainder through bank loans and bonds. The transaction closed in August 2004. One month after the buyout, the company issued an additional $250 million in discount notes which were used to pay the consortium dividends. Three months later, PanAmSat filed an initial public offering with the Securities and Exchange Commission (SEC).

In an ironic twist of fate, its private equity owners sold PanAmSat to its arch rival Intelsat in August 2005 for a total of $4.3 billion in a deal finally consummated in July 2006. At the time of its sale, PanAmSat was the world's leading carrier of TV channels. In combination with Intelsat (which had also gone private under private equity ownership in 2000), the new company — called Intelsat — is the world's largest commercial satellite company, with 53 spacecraft serving over 200 countries, with nearly 1400 employees. Global headquarters for the company is Washington, D.C. under the leadership of CEO David McGlade.

In March 2007, Forbes magazine estimated the net worth of Rene Anselmo's widow, Mary Anselmo at $1 billion. Anselmo, 78, lives in Greenwich, Connecticut.[1]

Satellite Fleet

Satellite Manufacturer Type Launch Vehicle Launch Date Status Notes
SBS 1 Hughes HS 376 Delta 1 Nov 1980 Retired Jan 1990
SBS 2 Hughes HS 376 Delta 1 Sep 1981 Retired Sept 1996
SBS 3 Hughes HS 376 Space Shuttle Columbia STS-5 11 Nov 1982 Retired June 1995
Galaxy 1 Hughes HS 376 Delta 1 Jun 1983 Retired 1 Apr 1994
Galaxy 2 Hughes HS 376 Delta 1 Sep 1983 Retired May 1994
SBS 4 Hughes HS 376 Space Shuttle Discovery STS-41-D 30 Aug 1984 Retired Aug 1999
Galaxy 3 Hughes HS 376 Delta 1 Sep 1984 Retired Oct 1995
PAS 1 General Electric GE-3000 Ariane 44LP 15 Jun 1988 Retired Feb 2001
SBS 5 Hughes HS 376 Ariane 3 1 Sep 1988 Retired Mar 2000
SBS 6 Hughes HS 393 Ariane 44L 1 Oct 1990 Active
Galaxy 6 Hughes HS 376 Ariane 44L 12 Oct 1990 Retired Feb 2003
Galaxy 5 Hughes HS 376 Atlas I 14 Mar 1992 Retired Jan 2005
Galaxy 1R Hughes HS 376 Atlas I 22-Aug-92 Launch failure 22 Aug 1992 Launch failure 22 August 1992
Galaxy 7 Hughes HS 601 Ariane 42P+ 27 Oct 1992 on orbit failure Nov 2000
Galaxy 4 Hughes HS 601 Ariane 42P+ 1 Jun 1993 on orbit failure May 1998
Galaxy 1R Hughes HS 376 Delta II (7925-8) 19 Feb 1994 Retired 7 Mar 2006
PAS 2 Hughes HS 601 Ariane 44L 8 Jul 1994 Active Dec 2008
PAS 3 Hughes HS 601 Ariane 42P 1 Dec 1994 Launch failure 1 Dec 1994 Launch failure 1 December 1994
PAS 4 Hughes HS 601 Ariane 42L+ 3 Aug 1995 Active
Galaxy 3R Hughes HS 601 Atlas IIA 1 Dec 1995 on orbit failure Mar 2006
PAS 3R Hughes HS 601 Ariane 44L 12 Jan 1996 Active
Galaxy 9 Hughes HS 376 Delta II (7925) 12 Jun 1996 Active
PAS 6 Space Systems Loral FS 1300 Ariane 44P 8 Aug 1997 on orbit failure Apr 2004
PAS 5 Hughes HS 601 HP Proton-K 27 Aug 1997 Active
Galaxy 8i Hughes HS 601 HP Atlas IIAS 8 Dec 1997 Retired Oct 2002
Galaxy 10 Hughes HS 601 High Power Delta III 26 Aug 1998 Launch failure 26 Aug 1998 Launch failure 26 August 1998
PAS 7 Space Systems Loral FS 1300 Ariane 44LP 15 Sep 1998 Active
PAS 8 Space Systems Loral FS 1300 Proton-K 4 Nov 1998 Active
PAS 6B Hughes HS 601 HP Ariane 42L 21 Dec 1998 Active
Galaxy 11 Hughes HS 702 Ariane 44L 21 Dec 1999 Active
Galaxy 10R Hughes HS 601 HP Ariane 42L 24 Jan 2000 Retired May 2008
Galaxy 4R Hughes HS 601 HP Ariane 42L 18 Apr 2000 Retired Jul 2006
PAS 9 Hughes HS 601 HP Sea Launch Zenit-3SL 28 Jul 2000 Active
PAS 1R Hughes HS 702 Ariane 5 G 15 Nov 2000 Active
PAS 10 Hughes HS601 HP Proton 15 May 2001 Active
Galaxy 3C Hughes HS 702 Sea Launch Zenit-3SL 15 Jun 2002 Active
Galaxy 12 Orbital Sciences Corp Star-2 Ariane 5 G 9 Apr 2003 Active
Galaxy 13 Hughes HS 601 HP Sea Launch Zenit-3SL 1 Oct 2003 Active
Galaxy 14 Orbital Sciences Corp Star-2 Soyuz-FG/Fregat 14 Aug 2005 Active
Galaxy 15 Orbital Sciences Corp Star-2 Ariane 5 GS 14 Oct 2005 Active WAAS payload

External links

References

Coordinates: 38°56′30″N 77°03′49″W / 38.94167°N 77.06361°W / 38.94167; -77.06361

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