News Headline
Intelsat to buy PanAmsat for $3.2 billion
MUMBAI: A wave of consolidation is sweeping the satellite sector. Intelsat Ltd. plans to buy PanAmSat Holding Corporation in an all-cash deal for $3.2 billion to create a premier satellite company.
The enlarged company will have a combined fleet of 53 satellites with an annual revenue of more than $1.9 billion. Serving customers in more than 220 countries and teritories, it will be a leader in the digital delivery of video content, the transmission of corporate data and the provisioning of government communications solutions, Intelsat said in a release.
The new company will offer customers expanded coverage with additional back-up satellites, support fiber networks, and enhanced operational capabilities for cable TV programmes, broadcasters, businesses and governments.
Says Intelsat CEO David McGlade, “The combination of Intelsat and PanAmSat creates an industry leader with the ability to provide competitive communications and video services to consumers and businesses. The two companies are complementary in customer, geographic and product focus. Together, we will continue providing the highest level of service to existing customers while growing new business in rapidly expanding communications markets.”
McGlade will continue to serve as CEO while Joseph Wright, currently PanAmSat CEO, is expected to become chairman of the board upon completion of the transaction.
“Today, PanAmSat offers its video, data and government customers a highly reliable level of service that only a technically advanced and financially strong satellite operator can provide,” said Mr. Wright. “Now, we will combine the best from both companies and bring a professional business approach to the new enterprise to benefit our customers, employees and shareholders. This is a ‘win-win’ for both companies, and a terrific outcome for all of PanAmSat’s shareholders, who will receive $25 per share in cash — a significant premium over the recent stock price and nearly a 40% premium over the IPO price of about six months ago. In addition, our shareholders will continue to receive dividends, at the current annual rate or higher, until we close the transaction.”
PanAmSat has a fleet of 25 satelllites and is a leading global provider of video, broadcasting and network distribution and delivery services. It transmits 1,991 television channels worldwide. Intelsat’s historic strength, on the other hand, has been in providing core telephony and advanced data services to developing and underserved regions around the world. “We will leverage our combined intellectual, material and people assets to continue the high-quality service Intelsat and PanAmSat customers have come to expect,” said McGlade.
Under the merger agreement signed by the two companies, Intelsat will acquire all outstanding common shares of PanAmSat. Additionally, Intelsat will either refinance or assume approximately $3.2 billion in debt of PanAmSat Holding Corporation and its subsidiaries. Intelsat has received financing commitments for the full amount of the purchase price from a group of financial institutions led by Deutsche Bank Securities Inc, Citigroup Global Markets Inc, Credit Suisse First Boston LLC and Lehman Brothers Inc.
The merger requires approval from US antitrust regulators and the Federal Communications Commission. The companies expect to close the transaction in approximately six to 12 months.
The satellite industry has been witness to a series of merger activities over the last three years. PanAmSat was bought last year by an investor group of private equity firms. In 2001, SES Astra bought GE Americom for $5 billion, to form SES Global.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
