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Satellite operator Intelsat to buy PanAmSat
Pembroke, Bermuda: Satellite operator Intelsat on Monday announced plans to buy rival PanAmSat for US$3.2bn, in a deal that will create the world's biggest fleet of commercial communications satellites.

Using a combined fleet of 53 satellites, the expanded Intelsat Inc. will cover more than 220 countries and territories, officials said.
PanAmSat brings to the table a base of cable TV broadcasters; Intelsat historically has focused on Internet access for government customers and rural areas around the world where alternate options are not available.

The expanded company is expected to have annual revenues of more than US$1.9bn, officials said. The deal should close in six to 12 months, pending Federal approval.
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