Telesat Expects to Go Public Later This Year

Telesat will likely be publicly traded by the end of Q3 or sometime in Q4, CEO Dan Goldberg said Friday as the company announced its Q2 financial results. Telesat in November announced a deal with Loral Space & Communications to take it public (see 2011240043). The FCC approved related license transfers earlier this month. Goldberg said a combined Dish Network/DirecTV wouldn't affect the prospects of renewing Dish's capacity contract with Telesat that expires in Q2 2022. For the quarter, Telesat said consolidated revenue was $150.3 million; down 3% year over year when adjusted for changes in foreign exchange rates. It said the revenue drop was due to a reduction in Dish service and non-renewals of some maritime and aeronautical connectivity contracts.