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Intelsat, launcher of 1st commercial communications satellite, files for bankruptcy

by the owl speaks

Satellite operator Intelsat, which launched the world’s first commercial communications satellite Intelsat 1 in 1965, filed for Chapter 11 bankruptcy Wednesday (May 13) to ease a multibillion-dollar debt and enter an FCC spectrum clearing plan. Born out of the Cold War, this massive body was instigated in 1961 by John F Kennedy as part of the space and technology wars with the USSR.

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