iSKY
Completes Second Round Of Financing
 iSKY,
Denver, has closed its second round of equity funding, raising a
total of US$137 million. All major existing shareholders
participated in this second round, including Kleiner Perkins
Caufield & Byers, Menlo Park, CA, Liberty Media, Englewood,
CA, TV Guide, Tulsa, OK, and TRW, Cleveland, OH. EchoStar, Denver,
was the lead investor in this round with a US$50 million
investment. TRW and Liberty Media are also investing in Astrolink.
iSKY has now raised approximately half of the US$750 million in
debt and equity financing needed for its initial phase of
operations. The initial phase will consist of iSKY's first
satellite, iSKY1, and a Ka-band payload on Telesat Anik F-2. This
financing will be used to fund the capital program, operating and
marketing costs.
iSKY
plans to roll out its broadband services via satellite direct to
U.S. homes and small offices in late 2001.
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