Intelsat Completes C-Band Spectrum Clearing for 5G Deployment
14.8.2023 17:30:00 EEST | Business Wire | Press release
Intelsat, operator of one of the world’s largest integrated satellite and terrestrial networks and leading provider of inflight connectivity, will receive nearly $3.7 billion in the fourth quarter after completing C-band frequency clearing, providing future strategic opportunities for the company and its shareholders.
“Intelsat’s C-band transition facilitates broader 5G services in the United States, while strengthening our financial position,” said Dave Wajsgras, CEO at Intelsat. “We reached this milestone well ahead of expectations, and I’m exceptionally proud of the Intelsat team and the hard work that led to this remarkable achievement.”
The FCC C-Band Transition Order set a deadline to clear the spectrum by December 2025 but offered incentive payments to satellite operators if cleared before December 2023. With the validated certification now complete, Intelsat will receive accelerated relocation payments totaling $3.67 billion.
“Half of these proceeds will be used to deleverage our balance sheet, consistent with our debt covenants, while the remainder provides Intelsat with various options to create value and opportunities for all of our stakeholders,” Wajsgras said. “The Intelsat team is well positioned to remain a leader in the satellite communications industry as we continue transforming the company for the future.”
About Intelsat
Intelsat’s global team of professionals is focused on providing seamless and secure, satellite-based communications to government, NGO and commercial customers through the company’s next-generation worldwide network and managed services. Bridging the digital divide by operating one of the world’s largest and most advanced satellite fleet and connectivity infrastructures, Intelsat enables people and their tools to speak over oceans, see across continents and listen through the skies to communicate, cooperate and coexist. Since its founding six decades ago, the company has been synonymous with satellite-industry “firsts” in service to its customers and the planet. Leaning on a legacy of innovation and focusing on addressing a new generation of challenges Intelsat team members now have their sights on the “next firsts” in space as they disrupt the field and lead in the digital transformation of the industry.
Follow Us on Social Media
Twitter | LinkedIn | Facebook | Instagram | YouTube
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230814773335/en/
Contact information
Melissa Longo - melissa.longo@intelsat.com; +1 240-308-1881
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Ryan Expands Global Presence and European Reach Through Acquisition of Svalner Atlas Advisors1.6.2026 12:00:00 EEST | Press release
Ryan, LLC (“Ryan”), a leading global tax services and software provider, today announced it has entered into a definitive agreement to acquire Svalner Atlas Advisors, a premier independent tax and transaction advisory firm headquartered in Stockholm, Sweden. The acquisition will expand Ryan’s presence across the Nordics and Benelux regions while enhancing the Firm’s ability to deliver integrated cross-border tax and advisory services throughout Europe. Founded through the combination of three leading advisory firms in Sweden, Finland, and the Netherlands, Svalner Atlas Advisors has established itself as a leading independent advisory group in the region. Today, the firm includes more than 450 professionals and 50 partners serving more than 4,000 clients across five countries, with offices in Stockholm, Amsterdam, Helsinki, Oslo, Copenhagen, Gothenburg, and Turku. “This transaction is an important milestone in Ryan’s continued European growth strategy,” said G. Brint Ryan, Chairman and
Electricity System Transformation Vital to Meet Future Needs, Arthur D. Little Blue Shift Report Finds1.6.2026 12:00:00 EEST | Press release
Arthur D. Little (ADL)’s Blue Shift Institute today published The Future of Electricity - From Building Capacity to Shaping Flexibility. The in-depth new report explores the growing pressures on electricity systems worldwide, and how they must transform to meet radically changing needs. With demand predicted to rise by 40-55% by 2035, it identifies practical strategies for maintaining reliability, affordability, and resilience. Electricity systems face profound challenges due to the accelerating electrification of end uses, increasing renewables deployments, and the digitalization of economies. Rising variability and system stress is already leading to instability, grid congestion, and disruption. Demonstrating this, an April 2025 blackout across the Iberian Peninsula led to at least eight deaths and an estimated US $1.8 billion in economic losses. Based on in-depth research and expert interviews, the report outlines the need to reshape infrastructure and operations to move from supply
Procore Redefines the Common Data Environment with Connected Data and Agentic AI1.6.2026 11:00:00 EEST | Press release
Procore Technologies, Inc. (NYSE: PCOR), the leading global provider of construction management software, today announced the launch of its connected Common Data Environment (CDE)—a purpose-built CDE from the ground up on a single platform to unify and verify project data from approved design to handover, capturing evidence in the flow of work to help keep the digital record aligned with site reality. This trusted data foundation allows agentic AI to act across the full construction lifecycle. In an industry where fragmented information continues to slow decision-making and contribute to costly delays, connected data is increasingly defining top-performing organizations. New research from Dodge Construction Network* found firms with optimized data practices achieve up to 23% higher productivity, manage 27.8% greater construction volume using the same resources, and reduce project delays by more than six days. Those firms also report up to 40% stronger overall performance, highlighting
AI Investment Boom Across the UK is Fuelled More by Fear of Missing out Than Actual Results, According to Expereo1.6.2026 11:00:00 EEST | Press release
Enterprise AI spending is climbing rapidly, with boards racing to deploy the technology faster than they can measure whether it works. According to the latest IDC InfoBrief, commissioned by Expereo*, around 70% of organizations are investing in AI, motivated by its potential or by the fear of falling behind the competition, but they lag in disciplined ROI evaluation, and one in five (20%) admit they are investing aggressively in AI with little evaluation, driven by the fear of being left behind. The IDC InfoBrief, based on a survey of 800 technology leaders across Europe, the US, and APAC, found that AI has become one of the most prioritized technology investments globally. When asked which technologies their organization will prioritize in terms of effort and/or financial investment over the next 12 months, 51% of organizations said AI or ML. However, returns are failing to keep pace with the hype. Just 19% of global organizations surveyed say their AI implementations have exceeded ex
Corient Completes Acquisitions of Stonehage Fleming and Stanhope Capital Group; Global Assets Surpass US$500 Billion1.6.2026 09:15:00 EEST | Press release
Corient today announced the successful completion of its previously announced acquisitions of Stonehage Fleming and Stanhope Capital Group, marking a significant milestone in its continued global expansion. “This is an exciting moment for Corient and the clients we serve around the world,” said Kurt MacAlpine, Founding Partner and Chief Executive Officer of Corient. “We are thrilled to welcome our new Partners at Stonehage Fleming and Stanhope Capital Group to Corient as we continue building a truly global firm defined by partnership, collaboration and an unwavering commitment to client excellence.” With today’s announcement, Corient becomes the world’s largest non-bank wealth manager and multi-family office focused on ultra-high- and high-net-worth clients. The firm, established in 2020, operates under a client-first approach with complete fee transparency. Corient operates under a distinctive private partnership model, similar to those used by leading professional services firms, tha
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom