PanAmSat

PanAmSat Corporation
Company type	Private
Industry	Satellite communications
Founded	1984
Founder	Reynold "Rene" Anselmo
Fate	Acquired by Intelsat in 2006
Headquarters	Greenwich, Connecticut, United States
Area served	Worldwide
Key people	Mary Anselmo (CEO after 1995)
Products	Communications satellites and related services
Number of employees	1400 (2006)

PanAmSat Corporation was a satellite communications provider based in Greenwich, Connecticut, United States. Established in 1984 by entrepreneur Reynold "Rene" Anselmo, the company operated a constellation of communications satellites that catered to sectors such as entertainment, news media, internet service providers, government entities, and telecom operators. The idea for PanAmSat originated when Anselmo consulted with communications attorney Norm Leventhal to find a solution for the high satellite transmission fees faced by his Spanish International Network (currently known as Univision). Funding the venture independently, Anselmo obtained FCC authorization and collaborated with RCA Astro-Electronics and Arianespace for satellite procurement and launch services.

PanAmSat broke the monopoly of Intelsat, an intergovernmental satellite consortium, by successfully lobbying the U.S. Congress to permit private global competition. This pivotal action allowed Univision to expand nationally through cable distribution, solidifying its status as the foremost Spanish-language broadcaster in the United States.

Following Anselmo's passing in 1995, his widow Mary Anselmo assumed leadership of the company until its $3 billion purchase by Hughes Electronics, a subsidiary of General Motors. Hughes acquired majority ownership while PanAmSat maintained day-to-day operational control. In 1997, PanAmSat merged with Hughes Communication Galaxy, adding nine satellites to its fleet. News Corporation bought PanAmSat from Hughes in 2003 and subsequently sold it in 2004 to a private equity group composed of Kohlberg Kravis Roberts, Carlyle Group, and Providence Equity Partners in a leveraged buyout valued at $4.3 billion.

2004 leveraged buyout

In 2004, KKR spearheaded a leveraged buyout acquiring a 44% share in PanAmSat, while Carlyle and Providence each took 27%, and company management retained the balance. The investor group contributed $550 million in equity capital, supplementing this with bank loans and bond financing. The transaction was completed in August 2004. Soon after closing, PanAmSat issued $250 million in discount notes to fund dividends for the investors and filed for an initial public offering (IPO) with the SEC three months later.

By August 2005, the private equity owners agreed to sell PanAmSat to competitor Intelsat for $4.3 billion; this deal was finalized in July 2006. At the time of sale, PanAmSat was recognized as the leading global carrier of television channels. The combined entity, operating under the Intelsat name, emerged as the largest commercial satellite operator worldwide, managing a fleet of 53 satellites serving over 200 nations with nearly 1,400 employees.

As of March 2007, Forbes estimated Mary Anselmo’s net worth at approximately $1 billion; she is the widow of founder Rene Anselmo and resides in Greenwich, Connecticut.

Satellite fleet

Satellite	Manufacturer	Model	Launch Vehicle	Launch Date (UTC)	Current Status
SBS 1	Hughes	HS-376	Delta	1 November 1980	Decommissioned January 1990
SBS 2	Hughes	HS-376	Delta	1 September 1981	Decommissioned September 1996
SBS 3	Hughes	HS-376	Template:OV STS-5	11 November 1982	Decommissioned June 1995
Galaxy 1	Hughes	HS-376	Delta	1 June 1983	Decommissioned April 1994
Galaxy 2	Hughes	HS-376	Delta	1 September 1983	Decommissioned May 1994
SBS 4	Hughes	HS-376	Template:OV STS-41-D	30 August 1984	Decommissioned August 1999
Galaxy 3	Hughes	HS-376	Delta	1 September 1984	Decommissioned October 1995
PAS-1	General Electric	GE-3000	Ariane 44LP (V22)	15 June 1988	Decommissioned February 2001
SBS 5	Hughes	HS-376	Ariane 3 (V25)	September 1988	Decommissioned March 2000
SBS 6	Hughes	HS-393	Ariane 44L (V39)	October 1990	Decommissioned April 2009

Note: The fleet also included additional active and retired satellites manufactured by Hughes, Space Systems/Loral, Orbital Sciences Corporation, among others that supported PanAmSat’s extensive worldwide operations and market reach.

External links