Space Systems/Loral Selected to Provide High-Power Satellite to DIRECTV
PALO ALTO, Calif., Jun 11, 2010 (GlobeNewswire via COMTEX News Network) -- Space Systems/Loral (SS/L) today announced that it has entered into a contract to provide a high-power satellite to DIRECTV. The new satellite, DIRECTV 14, which was started earlier this quarter under an authorization to proceed, is a 20 kilowatt spacecraft that will use Ka-band and Reverse DBS to expand the company's video services. "By employing the world's most advanced technologies, like the highly reliable SS/L 1300 satellite platform, we are able to provide the best video experience to our customers," said Phil Goswitz, vice president, Space & Communications, DIRECTV. "DIRECTV 14 will be the sixth SS/L 1300 satellite platform in DIRECTV's fleet and we look forward to continuing our relationship with Space Systems/Loral and maintaining our leadership as the provider of the most HD and 3D
available anywhere." The 1300 is a decades-proven, modular platform with the
industry's highest power capability and flexibility for a broad range of applications. It enables DIRECTV 14 to use Ka-band and reverse band spectrum on a satellite that will help DIRECTV expand its HD programming to both national and local markets. The satellite is designed to provide service for 15 years or more. "We believe it is a combination of great satellites and excellent service that keeps long-standing customers such as DIRECTV coming back to us for their spacecraft," said John Celli, president of SS/L. "Our satellite platform is well-suited to helping companies make use of newly available spectrum such as RDBS, and our experience with 20-kilowatt-class satellites is unsurpassed. We look forward to helping DIRECTV expand the exceptional viewing experience they provide." About DIRECTV DIRECTV (Nasdaq:DTV) is the world's most popular video service
delivering state-of-the-art technology, unmatched programming, the most comprehensive sports packages available and industry leading customer service to its more than 25.6 million customers in the U.S. and Latin America. In the U.S., DIRECTV offers its 18.6 million customers more than 130 HD channels and Dolby-Digital(R) 5.1 theater-quality sound (when available), access to exclusive sports programming such as NFL SUNDAY TICKET(TM), award winning technology like its DIRECTV(R) DVR Scheduler and higher customer satisfaction than the leading cable companies for nine years running. DIRECTV Latin America, through its subsidiaries and affiliated companies in Brazil, Mexico, Argentina, Venezuela, Colombia, and other Latin American countries, leads the pay-TV category in technology, programming and service, delivering an unrivaled digital television experience to 7 million customers.
DIRECTV sports and entertainment properties include three Regional Sports Networks (Northwest, Rocky Mountain and Pittsburgh) as well as a 65 percent interest in Game Show Network. For the most up-to-date information on DIRECTV, please call 1-800-DIRECTV or visit directv.com. About Space Systems/Loral Space Systems/Loral, a subsidiary of Loral Space & Communications (Nasdaq:LORL), has a long history of delivering reliable satellites and spacecraft systems for commercial and government customers around the world. As the world's leading provider of commercial satellites, the company works closely with satellite operators to provide spacecraft for a broad range of services including television and radio distribution, digital audio radio, broadband Internet, and mobile communications. Billions of people around the world depend on SS/L satellites every day. For more
information, visit www.ssloral.com. About Loral Space & Communications Loral Space & Communications is a satellite communications company. Through its Space Systems/Loral subsidiary, the company is a world-class leader in the design and manufacture of satellites and satellite systems for commercial and government applications including direct-to-home television, broadband communications, wireless telephony, weather monitoring, and air traffic management. Loral also owns 64 percent of Telesat, one of the world's largest providers of satellite services. Telesat operates a fleet of telecommunications satellites used to broadcast video entertainment programming, distribute direct-to-home video and broadband data services, and other value-added communications services. For more information, visit Loral's Web site at
www.loral.com. LORL-G This document contains
forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words "believes," "expects," "plans," "may," "will," "would," "could," "should," "anticipates," "estimates," "project," "intend" or "outlook" or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. In addition, Loral Space & Communications Inc., Space Systems/Loral, Inc. or their representatives have made or may make forward-looking statements, orally or in writing, which may be included in, but are not limited to, various filings made from time to time with the Securities and Exchange Commission, and press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results may differ materially from anticipated
results as a result of certain risks and uncertainties which are described as "Risk Factors" and in the "Commitments and Contingencies" note to the financial statements in Loral's most recent Form 10-Q filed on May 10, 2010 and in our 2009 annual report on Form 10-K. The reader is specifically referred to this document, as well as the company's other filings with the Securities and Exchange Commission. Risks and uncertainties include but are not limited to (1) risks associated with financial factors, including the global economic downturn, our history of losses and financial covenants in SS/L's credit agreement; (2) risks associated with satellite manufacturing, including competition, contractual risks, creditworthiness of customers, performance of suppliers and management of our factory and personnel; (3) regulatory risks, such as the effect of U.S. export control and economic sanction
laws; and (4) other risks, including litigation. The foregoing list of important factors is not exclusive. Furthermore, Loral and SS/L operate in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the control of Loral and SS/L. This news release was distributed by GlobeNewswire, www.globenewswire.com SOURCE: Loral Space & Communications Inc. CONTACT: Space Systems/Loral
Wendy Lewis
+1 (650) 852-5188
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
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