LIBERTY SATELLITE ANNOUNCES TERMINATION OF AGREEMENT TO RESTRUCTURE ASTROLINK
2003年10月30日 - 7:00AM
PRニュース・ワイアー (英語)
LIBERTY SATELLITE ANNOUNCES TERMINATION OF AGREEMENT TO RESTRUCTURE
ASTROLINK ENGLEWOOD, Colo., Oct. 29 /PRNewswire-FirstCall/ --
Liberty Satellite & Technology, Inc., (BULLETIN BOARD: LSTTA,
LSTTB) , a majority owned entity of Liberty Media Corporation ,
today announced that it had exercised its right to terminate the
previously announced agreement to restructure ASTROLINK
International LLC. If the closing under the Astrolink restructuring
agreement had occurred, Liberty Satellite would have acquired
substantially all of the assets of Astrolink in exchange for cash
and common stock. As a result of the termination of the
restructuring agreement, Liberty Satellite will receive $7.8 M in
cash in exchange for its equity interest in Astrolink and for all
notes evidencing loans made by Liberty Satellite to fund
Astrolink's continuing operations during the period that the
restructuring agreement was pending. In addition, all claims
related to Astrolink among its equity holders and creditors have
been released or settled. Astrolink was formed in 1999 to establish
and operate a global communications system to deliver
next-generation broadband service. Liberty Satellite acquired an
approximate 31.5% of Astrolink in March 2000, with the remainder
owned directly or indirectly by Lockheed Martin, Northrop Grumman,
and Telespazio. As previously announced, shareholders of Liberty
Satellite will meet November 12th at a special meeting of
stockholders to vote on the approval of the adoption of the merger
agreement pursuant to which Liberty Media, the majority shareholder
of Liberty Satellite, would acquire the remaining publicly held
common stock of Liberty Satellite. The meeting will commence at
9:00 a.m. local time at The Inverness Hotel and Golf Club, 200
Inverness Drive West, Englewood, Colorado 80112. About Liberty
Satellite & Technology, Inc. Liberty Satellite and Technology,
Inc., known as LSAT, pursues strategic opportunities worldwide in
the distribution of Internet data and other content via satellite
and related businesses. Through its majority-owned subsidiary, On
Command Corporation, LSAT is a leading provider of in-room movies,
broadband access and other entertainment and business services to
the hotel industry. LSAT also holds strategic ownership positions
in a range of video programming, satellite-delivered broadband
distribution and satellite communication businesses, including
Wildblue Communications, Astrolink International, and Sky Latin
America. LSAT is a consolidated subsidiary of Liberty Media
Corporation. The foregoing are "forward-looking statements" which
are based on management's beliefs as well as on a number of
assumptions concerning future events made by and information
currently available to management. Readers are cautioned not to put
undue reliance on such forward-looking statements, which are not a
guarantee of performance and are subject to a number of
uncertainties and other factors, many of which are outside Liberty
Satellite's control. For a more detailed description of the factors
that could cause such a difference, please see Liberty Satellite's
filings with the Securities and Exchange Commission. Liberty
Satellite disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise. This communication shall
not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of securities in any jurisdiction
in which the offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended. DATASOURCE: Liberty Satellite
& Technology, Inc. CONTACT: Investor Relations, John Beattie of
Liberty Satellite & Technology, Inc., +1-720-875-6861
Copyright