PanAmSat Set To Launch Galaxy X Satellite

PanAmSat is set to launch its Galaxy X satellite during a 65-minute launch window that opens today at 8:47 p.m. Eastern Time.

The Galaxy X is a Hughes-built HS 601HP spacecraft, carrying 24 C-Band transponders and 24 Ku-Band transponders. The satellite will launch from Cape Canaveral in Florida, to be placed at 123 degrees West longitude.

The satellite will provide broadcast and telecommunications service to all 50 states and the Caribbean, greatly increasing PanAmSat's service capabilities.

PanAmSat's Galaxy X is the first of nine new satellites that the company plans to launch in the next 18 months. Two of the new satellites will be deployed for service to Latin America, two for Asia, four for the United States, with the additional satellite designated for international service.

PanAmSat Gets Buy Rating From Credit Suisse First Boston

Credit Suisse First Boston initiated coverage of Panamsat with a buy rating.

The rating comes as PanAmSat prepares for the launch of the Galaxy X satellite today. The company also plans to launch PAS-7 next month.

PanAmSat shares closed down one point on Friday, at $49.50.

SBCA Launches S.O.S. Campaign To Address Network Signal Access

The Satellite Broadcasting and Communications Association and its member companies launched an initiative to offer informational resources on the white area network signal issue to members of Congress and their staffs.

The SBCA S.O.S. - Save Our Signals - campaign includes an exclusive Congressional Hotline, created to help members and staff understand the background, the terms and the impact of this issue on their constituents.

For instant 24-hour information, SBCA has created a special "Save Our Signals" banner on the www.sbca.com home page. In addition, Members and staff can request document 308 from the SBCA Fax On Demand service at 888-629-7222.

Disney To Pay $600 Million For NHL Rights

The NHL Board of Governors approved Disney's $600 million offer for the right to televise league games beginning in 1999 on its ABC, ESPN and ESPN2 networks.

This comes out to $120 million per year, or 2.6 times the amount that ESPN and Fox Sports paid for their current contracts with the NHL.

Fox Sports has passed on renewing its deal with the NHL and is looking to sell the final year of its current agreement back to the league - a $45 million dollar investment. The network is projecting losses of $20 million in the upcoming season and with the NHL's falling ratings, renewing the contract just didn't make financial sense.

There is speculation that ABC may pick up the final year of Fox Sports' NHL contract.

Nintendo Drops Plans For Satellite-Delivered Video Games

Nintendo canceled plans to send video games and other data direct to Japanese homes via satellite.

The video game giant said its affiliate Satellite Digital Audio Broadcasting hasn't applied to the government for a digital satellite broadcasting license by Friday's deadline. A Nintendo spokesman said that Satellite Digital managers had refused to approve Nintendo's plan to reduce the firm's debt, leading it to the canceled plans.

Nintendo had planned to offer video games and data programming through a channel on a new BS-4 satellite, due to be launched in 2000.