COMSAT Corporation Overview and History

COMSAT Corporation was founded in 1963 as a private company to provide commercial communications services to the United States government.

COMSAT's first major project was the development of the Intersputnik system, a network of satellites that allowed for international communication between the Soviet Union and other countries.

The Intersputnik system was launched in 1969 and marked a significant milestone in the history of commercial satellite communications.

COMSAT played a crucial role in the development of the international satellite communications industry, and its legacy continues to shape the industry today.

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The COMSAT satellite fleet operates via the Marisat and later mostly also via the Inmarsat geosynchronous satellite constellation.

These satellites are connected to two earth station facilities, one in Southbury, Connecticut, and another in Santa Paula, California.

The earth station facilities in Connecticut and California play a crucial role in the satellite operations, serving as key connections between the satellites and the rest of the world.

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COMSAT was a privately held company, established in 1962 by the American Telephone and Telegraph Company (AT&T) to develop and launch commercial communications satellites.

The company played a significant role in the development of the global communications industry. COMSAT was a major player in the launch of the first commercial communications satellite, Intelsat 1, in 1965.

COMSAT's primary goal was to provide commercial satellite communications services to governments and private companies.

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COMSAT International Holdings (CIH) was formerly known as World Data Consortium. They acquired an 81% stake in COMSAT International from Lockheed Martin Corporation in the 2nd quarter of 2002.

CIH's acquisition of COMSAT International marked a significant shift in the company's focus. COMSAT International was a provider of network services to the South American corporate market.

In 2004, Lockheed Martin announced that Intelsat, Ltd. would acquire Lockheed Martin's COMSAT General business for $90 million. This deal involved the sale of satellite-centric telecommunications services and equipment.

BT Group of the UK acquired COMSAT International from CIH in the 2nd quarter of 2007. Lockheed Martin also sold its remaining 20% interest in COMSAT International at that time.

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COMSAT Mobile Communications (CMC) revolutionized medium- and long-distance maritime ship-to-shore communication with its solid-state satellite terminals that required minimal training to use.

CMC was a business unit of COMSAT Corporation, which was listed on the NYSE under the ticker symbol CQ.

The MARISAT system, in concert with CMC, replaced cumbersome high-power radiotelegraph and radiotelephone equipment with user-friendly satellite terminals.

Initial rates for voice and fax communication were high, at $10 per minute to and from the USA.

COMSAT Mobile Communications was acquired by Lockheed Martin Global Telecommunications in 2000 as part of a merger with its parent COMSAT Corporation.

Telenor of Norway purchased the COMSAT Mobile Communications unit from Lockheed Martin Global Telecommunications in 2002.

The earth station facilities of CMC were located in Southbury, Connecticut, and Santa Paula, California.

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COMSAT General was acquired by Intelsat, Ltd. in 2004 for $90 million. This acquisition marked a significant change in the company's ownership and direction.

COMSAT General provided satellite-centric telecommunications services and equipment, focusing on international fixed and mobile satellite systems.

Lockheed Martin Corp. and COMSAT Corp. merged in 1998, forming a $2.7 billion deal contingent upon FCC rulings and Congressional accommodations.

The merger was completed in two phases, with Phase 1 finished in September 1999 through a $49.50 per share purchase of approximately 49% of COMSAT common stock.

COMSAT shareholders lost about $300 million in purchase value due to a drop in Lockheed Martin stock during the two-year approval process.

The Lockheed Martin stock was trading at approximately $28.50 per share when the remaining 51% of COMSAT common stock was exchanged in August 2000.

COMSAT's ticker symbol CQ was removed from the New York Stock Exchange on August 2, 2000, marking the end of the company's independent trading status.

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Comsat General was acquired by Intelsat, Ltd. in 2004 for $90 million.

The acquisition marked a significant shift in the company's focus, allowing it to concentrate on international fixed and mobile satellite systems.

Comsat has refocused on its core strengths in international satellite communications services and network services and technology.

The company's goal is to increase profit, reduce debt, and return significant value to its shareholders.

Comsat's principal divisions are Satellite Services, which provides satellite-centric telecommunications services, and Network Services and Technology, which focuses on network services and technology development.

COMSAT was founded in 1963, making it a notable player in the satellite telecommunications industry.

The company's name is Communications Satellite Corporation, which gives you an idea of its focus.

COMSAT is headquartered in Bethesda, Maryland, U.S.A., a location that has likely played a significant role in its success.

Here are the key people involved in COMSAT's operations:

COMSAT's website is http://www.comsat.com/, a great resource for learning more about the company.