Intelsat Bulks Up

Intelsat says its PanAmSat purchase is officially complete, giving the company claim as the largest provider of fixed satellite services for media, communications and government work. With slowing demand for telecom satellite services and an oversupply of cheaper communication options, the two companies agreed to join last year to form the behemoth, 51 satellite fleet company.

PanAmSat became well known for breaking Intelsat’s monopoly, as well as PanAmSat’s logo– a cartoon dog named Spot that marked his territory in newspaper ads. Intelsat purchased all of the outstanding shares of PanAmSat’s common stock for $3.2 billion, but including PanAmSat’s debt, the value of the transaction was closer to $6.4 billion.