EchoStar Suspends Construction On CMBStar
[Satellite News – 5-14-08] EchoStar Corp. is suspending construction of the CMBStar satellite, the company reported in a filing with U.S. Securities and Exchange Commission.
The satellite, which will provide complete coverage of China for China’s State Administration of Radio, Film and TV’s CMMB (China Multimedia Mobile Broadcasting) project, was due to be launched in mid-2008. EchoStar is evaluating alternative uses for the satellite, which may result in a $100 million impairment charge to the company.
“During April 2008, we notified the State Administration of Radio, Film and Television of China that we were suspending construction of the CMBStar satellite pending, among other things, further analysis relating to efforts to meet the satellite performance criteria and/or confirmation that alternative performance criteria would be acceptable,” EchoStar said.