Bankruptcy
Court Approves Iridium Sale
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The U.S.
Bankruptcy Court for the Southern District of New York approved the
bid of Iridium Satellite LLC to purchase the operating assets of
Iridium LLC and its subsidiaries. Under the agreement, Iridium
Satellite LLC  will
purchase all of the existing assets of Iridium LLC, including the
satellite constellation, the terrestrial network, Iridium real
property and intellectual property owned by Iridium LLC. Iridium  Satellite
LLC has contracted with the Boeing Company to operate and maintain
the satellite constellation.
Iridium
Satellite LLC will continue to provide commercial satellite
communications to the U.S. government and plans to re-launch
satellite commercial communications within 60 days.
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