Asia Broadcast Satellite (ABS), a newly formed satellite operator, announced Sept. 20 the acquisition of Lockheed Martin Space Communications Ventures Ltd. (LMSCV) and Lockheed Martin Intersputnik Ltd. (LMI) from Lockheed Martin Global Telecommunications.

LMSCV owns and operates the LMI-1 satellite, positioned at 75 degrees East, and LMI has the exclusive right to market its capacity.

The satellite, a Lockheed Martin A2100AX spacecraft, covers four continents and more 4 billion people from Europe, Asia, the Middle East, Africa and Australia.

As a result of the transaction, LMSCV and LMI have been renamed Asia Broadcast Satellite Holdings and Asia Broadcast Satellite Ltd., respectively. Also, the LMI-1 satellite has been renamed ABS-1.