Intelsat Files for Bankruptcy

Intelsat Corporation, a communications satellite services provider, has filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code and plans To Participate In Federal Spectrum Auction.

“We are at a transformational moment in the history of our company,” the company said in a statement on Twitter. “We just announced a financial restructuring to position us for long-term success. No change in our momentum, just enhanced resources to grow.”

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