Business Services Industry
Innova and SKY Brasil Sign Agreement with Intelsat to Build and Launch New Satellite
Business Wire, Dec 6, 2007
NEW YORK & MEXICO CITY & SAO PAULO, Brazil -- Innova, S. de R.L. de C.V. ("Innova" or "SKY Mexico"), and SKY Brasil Servicos Ltda. ("SKY Brasil"), announced that they have reached an agreement with Intelsat Corporation, and an affiliate, to build and launch a new 24-transponder satellite ("IS-16") for which service will be dedicated to SKY Mexico Innova and SKY Brasil over the satellite's estimated 15-year service life.
The satellite will provide back up for both platforms, and will also double SKY Mexico's current capacity. Innova plans to use this extra capacity for HD and other value-added services.
The satellite, to be manufactured by Orbital Sciences Corporation, is expected to launch in the fourth quarter of 2009.
Innova, S. de R.L. de C.V., is a joint venture indirectly owned by Grupo Televisa, S.A.B., a Mexican corporation ("Televisa"), and The DIRECTV Group, Inc., a Delaware corporation ("DIRECTV"). For more information, please visit www.sky.com.mx.
Grupo Televisa S.A.B., is the largest media company in the Spanish-speaking world and a major participant in the international entertainment business. It has interests in television production and broadcasting, production of pay television networks, international distribution of television programming, direct-to-home satellite services, publishing and publishing distribution, cable television, radio production and broadcasting, professional sports and live entertainment, feature film production and distribution, gaming, and the operation of a horizontal internet portal. Grupo Televisa also owns an unconsolidated equity stake in La Sexta, a free-to-air television venture in Spain. For more information, please visit www.televisa.com.
SKY Brasil Servicos Ltda. is the leading provider of digital television entertainment services in Brazil, with approximately 1,600,000 subscribers. SKY Brasil is indirectly owned by the The DIRECTV Group with an approximate 74% stake in the company, and by Globo Comunicacoes e Participacoes (Globo), a Brazilian communications group, with an approximate 26% stake. For more information, please visit www.sky.com.br.
About The DIRECTV Group
The DIRECTV Group is a world-leading provider of digital television entertainment services. Through its subsidiaries and affiliated companies in the United States, Brazil, Mexico and other countries in Latin America, the DIRECTV Group provides digital television service to more than 16.6 million customers in the United States and over 4.6 million customers in Latin America.
This press release contains forward-looking statements regarding Innova and SKY Brasil new satellite agreement. Actual results could differ materially from these statements. The forward-looking statements in this press release, could cause actual results to differ materially from those contained in any oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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