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[HCDX] PANAMSAT EXPANDS ITS GLOBAL COVERAGE TO EUROPE
>From http://www.panamsat.com/news/pressview.asp?article=1407
Europe*Star Satellite and Slots Provide Entre'e to European Market
with Expansion of Services in Attractive African and Middle Eastern
Regions
WILTON, CT, July 19, 2005 -- PanAmSat (NYSE:PA) announced today
that it had signed an agreement with Alcatel, the French-based
communications leader, for the acquisition of multiple European orbital
slots as well as a powerful satellite with a footprint over Europe, the
Middle East, Africa and Asia. As a result of this transaction, PanAmSat
will substantially strengthen its presence in the European and Middle
Eastern marketplaces as well as expand its global reach into key
growth regions.
?PanAmSat is the largest distributor of television signals in the world
and the number-one provider of HDTV channels in the U.S. but we
wanted to increase our coverage in Europe. With the acquisition of
Europe*Star, we can now provide our customers with more effective
access and expanded services to and from the European marketplace.
We also obtain critical new capacity in the Middle East and Africa, two
of the fastest growing markets in the world as well as gain an entirely
new customer base in that region,? said Joe Wright, CEO of
PanAmSat. ?In addition, we have continually stated that there are
growth opportunities in our industry that provide greater value than
simply launching new satellites?this is one of them. The acquisition of
these strategic orbital locations coupled with the purchase of an in-orbit
satellite with an established customer base is an opportunity that is very
strategic and accretive. Capital-efficient, sustainable growth is what
we?re after and this transaction, along with others such as the recently
announced joint venture with JSAT, gives us just exactly that.?
The new PAS-12 satellite, formerly known as Europe*Star 1, will enable
PanAmSat to provide a broad range of enhanced services to European
customers for program distribution, broadcast contribution and
enterprise networking. These potential applications include new
offerings in Direct-To-Home (DTH) and high-definition television
(HDTV), On-Demand satellite services, Digital Satellite News
Gathering, as well as support of government satellite communications
applications in Europe, South Africa, the Middle East, India and South
East Asia.
Under the terms of the agreement, PanAmSat gains the right to the 45
degrees east longitude orbital slot as well as the 47.5 degrees east
longitude position. Ownership of these two orbital positions significantly
expands the Company?s global reach enabling access to new markets
in Europe as well as Saudi Arabia and other parts of the Middle East,
Africa and Asia. The cost of the transaction will come out of available
cash on hand and a portion of the price is deferred into 2006.
PanAmSat expects that this acquisition will produce approximately
$12M to $15M of incremental adjusted EBITDA on an annualized basis
over the near term. This equates to approximately $0.07 to $0.09 per
share of incremental free cash flow and demonstrates the Company's
most recent step in executing its strategy of investing excess cash flow
in opportunities that will be accretive to its free cash flow per share.
As part of PanAmSat?s innovative growth strategy, the Company also
recently entered into an agreement with Japan?s JSAT to form a joint
venture to launch a new Ku-band satellite at 74 degrees west longitude
to satisfy the growing demand in the U.S. market. The joint venture,
Horizons-2, includes a high-powered satellite that will support
everything from digital video, high-definition television (HDTV) and IP-
based content distribution networks to broadband Internet and satellite
news gathering services (SNG).
About PanAmSat
Through its owned and operated fleet of 23 satellites, PanAmSat
(NYSE:PA) is a leading global provider of video, broadcasting and
network distribution and delivery services. It transmits 1,991 television
channels worldwide and, as such, is the leading carrier of standard and
high-definition signals. In total, the Company's in-orbit fleet is capable of
reaching over 98 percent of the world's population through cable
television systems, broadcast affiliates, direct-to-home operators,
Internet service providers and telecommunications companies. In
addition, PanAmSat supports the largest concentration of satellite-
based business networks in the U.S., as well as specialized
communications services in remote areas throughout the world. For
more information, visit the Company's web site at www.panamsat.com.
------
Please do not send mesages above 400 kB
Zacharias Liangas , Thessaloniki Greece
greekdx @ otenet dot gr --- www.geocities.com/zliangas
Pesawat penerima: ICOM R75 , Lowe HF150 , Degen 1102,1103,108,
Tecsun PL200, Chibo c300/c979, Yupi 7000
Antenna: 16m hor, 2x16 m V invert, 1m australian loop
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