Intelsat Gets IPO Deadline Extension

Intelsat has received approval from the Federal Communications Commission to extend the date by which the company is required to complete an initial public equity offering from Dec. 31, 2003, to June 30, 2004.

“Intelsat respects its obligations under the ORBIT Act and we appreciate the responsiveness of the FCC in considering the many factors that led to our request,” said Intelsat Chief Executive Officer Conny Kullman. “We are now focused on closing on and integrating the North American satellite assets we are purchasing from Loral [OTCBB: LRLSQ] and then intend to conduct our initial public offering in compliance with the ORBIT Act.”