Last $73.45 USD
Change Today +0.22 / 0.30%
Volume 38.8K
As of 8:10 PM 07/23/14 All times are local (Market data is delayed by at least 15 minutes).

loral space & communications (LORL) Snapshot

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01/22/14 - $82.13
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07/26/13 - $60.38
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loral space & communications (LORL) Details

Loral Space & Communications Inc., a satellite communications company, provides satellite-based services to broadcast, telecom, corporate, and government customers worldwide. The company is involved in the distribution or collection of video and audio signals, which include satellite transmission services, uplinking and downlinking services, occasional use services, and bundled and value added services, such as digital encoding. It also provides satellite transmission and ground network services for voice, data, image transmission, and Internet services; and consulting services related to space and earth segments, government studies, satellite control services, and research and development. As of December 31, 2013, the company provides satellite services through a fleet of 14 in-orbit satellites; and the Canadian Ka-band payload on the ViaSat-1 satellite. In addition, the company provides X-band communications services to the United States, Spanish, and allied government users, including the U.S. Department of Defense; U.S. Department of State; various agencies of the Spanish Government; the Belgium Ministry of Defense; the Norwegian Ministry of Defense; and the Danish armed forces, as well as manages the operations of additional satellites for third parties. Loral Space & Communications Inc. was founded in 1996 and is based in New York, New York.

22 Employees
Last Reported Date: 03/3/14
Founded in 1996

loral space & communications (LORL) Top Compensated Officers

President, General Counsel and Secretary
Total Annual Compensation: $953.6K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $601.8K
Total Annual Compensation: $2.2M
Compensation as of Fiscal Year 2013.

loral space & communications (LORL) Key Developments

Loral Rejects Potential $7 Billion Deal

Loral Space & Communications, Inc.'s (NasdaqGS:LORL) efforts to sell itself and its main asset, Telesat Holdings Inc. has broken down. Loral Space failed to agree on a potential $7 billion deal with the buyer group, people familiar with the matter said. Loral rejected an offer from a consortium involving Ontario Teacher's Pension Plan and another Telesat shareholder, Public Sector Pension Investment Board, which valued Loral at more $80 per share and Telesat at roughly $7 billion including debt, the people said. The talks broke down over a very small price gap and the parties are no longer negotiating a deal, the people said, asking not to be named because the matter is not public. It is not clear what the next steps will be for Loral and its top shareholder MHR Fund Management LLC, which owns a 38 percent stake in the company, or whether the talks could still be resumed in the future.

Loral To Bridge Gap On Telesat Sale

Loral Space & Communications, Inc. (NasdaqGS:LORL) is looking to sell its 63% stake in Telesat Holdings Inc. to Ontario Teachers' Pension Plan, Bloomberg News reported. Loral Space & Communications and Public Sector Pension Investment Board are attempting a bridge for a $100 million value gap. According to reports, Loral is willing to sell itself for $85 per share but Pension Investment Board, which owns the other 37% of Telesat, wants a Telesat valuation that's approximately $100 million less.

Ontario Teachers Reportedly Leads To Acquire Telesat

Ontario Teachers' Pension Plan is the front-runner to acquire Loral Space & Communications, Inc. (NasdaqGS:LORL)'s stake in Telesat Holdings Inc. for about $7 billion including debt, people with knowledge of the matter said. The Telesat purchase would come in two pieces: buying publicly traded Loral, which owns 63% of the company, and acquiring the rest from Public Sector Pension Investment Board, which co-owns the satellite operator. Loral could be bought for more than $80 a share, said the people, who asked not to be identified because the talks are private. The shares rose 6.4% to $74.56. Canada Pension Plan Investment Board also has been in talks with both of Telesat’s owners, the people said. Public Sector Pension owns about 37% of Telesat and controls about 67% of the voting rights. As a result, both Loral and Public Sector Pension must agree to a deal for a full sale of Telesat. The discussions signal that Loral’s largest shareholder, Mark Rachesky’sMHR Fund Management LLC, and Public Sector Pension are working together to get a deal completed. The two co-owners of Telesat were previously not talking with each other, making a joint transaction tricky, according to the people. A sale could be announced later this month or in early May, the people said. According to Bloomberg, Michael Bolitho, a Telesat spokesman, declined to comment, as did Deborah Allan, a spokeswoman for Ontario Teachers’ Pension Plan. According to Bloomberg, a representative for Public Sector Pension didn’t respond to requests for comment, while Linda Sims, a spokeswoman for Canada Pension Plan, declined to comment. Apax Partners LLP; Kohlberg Kravis Roberts & Co. (NYSE:KKR); and The Carlyle Group LP (NasdaqGS:CG) had looked at buying Telesat, and all have dropped out of the bidding, the people familiar with the situation said.


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