Intelsat Still Burdened With Debt Even if FCC Boosts Payout
- Intelsat asked for bigger cut of spectrum-clearing payments
- FCC scheduled to vote Friday on payout plan for airwaves
Photographer: Jody Amiet/AFP via Getty Images
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Satellite provider Intelsat SA will still face a steep pile of debt even if it wins bigger payouts for giving up spectrum in a vote Friday by U.S. regulators that want the frequencies for fast 5G mobile networks.
The Federal Communications Commission is scheduled to vote on Chairman Ajit Pai’s plan to pay satellite providers as much as $9.7 billion for leaving the airwaves, with 50% of that, or $4.85 billion, potentially going to Intelsat.