GE received FCC approval Wed. to transfer control of GE Americom ...
GE received FCC approval Wed. to transfer control of GE Americom and Columbia Communication to SES Astra. Move clears way for sale to close (CD March 29 p3). Commission also authorized Americom Licensees, which currently operates as indirect subsidiary…
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of GE, to become subsidiary of SES Astra. Merged satellite companies are expected to become among largest in world in $5 billion transaction. “This is a home run, not only for SES Astra and GE, but also for competition in the U.S. satellite market and for free trade,” said SES Astra attorney Phil Spector. “This was a key issue that we needed to get out of the way.” Spector said he still expected closing to take place in 4th quarter, but with FCC approval deal was likely to be finalized “earlier than later.” FCC also issued protective order requiring GE Americom to disclose information to PanAmSat on May 8, 1997, contract with Harris Corp. for construction of Ka-band satellite.