Lockheed Martin Corp., Telecom Italia and TRW Inc. say they plan to invest $900 million in Astrolink LLC.(Brief Article)

Broadcasting & Cable, May, 1999

Lockheed Martin Corp., Telecom Italia and TRW Inc. say they plan to invest $900 million in Astrolink LLC, a venture that plans to use satellites for high-speed communications and Internet access. Lockheed Martin, the second-largest U.S. aerospace company, will own 46% of Astrolink, investing $400 million.

Telecom Italia, Italy's largest phone company, and TRW, a U.S. aerospace and vehicle-components maker, will invest $250 million each. Astrolink, like competitors Teledesic LLC and Hughes Electronics Corp.'s Space-way project, plans to use satellites for linking computer networks worldwide. Astrolink plans to launch its first satellite in 2002 and begin commercial service in 2003.