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Softbank bails out IntelSat, awaits reaction to OneWeb merger

Softbank has arrived as the unlikely white knight to save Intelsat from running out of cash. It has injected debt funding and proposed a merger through its LEO satellite firm OneWeb. Now bondholders for Intelsat must give the deal the go ahead. The deal came just as IntelSat announced its Q4 numbers with revenue of $550.7 million and full-year 2016 revenue of $2.2 billion. It said it had EBITDA of $407 million for the quarter and $990 million for the year. When you add the $8.7 billion it has in contracted dealflow, that should mean the company is out of danger, as long as bondholders OK the deal. OneWeb’s mission it to target the last few million potential broadband subscribers…

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