Globalstar Chairman Bernard Schwartz reassured observers in the financial community that the service is still aiming for $300 million in revenue and 500,000 subscribers for 2000. Schwartz, who also heads Loral, Globalstar's primary backer, said earlier this week that he felt "there was a disconnect between reality and (the Globalstar) share price." This week, Globalstar shares have tumbled along with Loral's stock price. On Thursday, Globalstar fell to $18, while Loral closed at $13.06. To get consumers to notice the sat-phone product, Schwartz said the company will cut the price on some of its phones by $400. Some handsets sell for as much as $1,500. To get to the 500,000-subscriber goal, Schwartz said the company plans to have 600,000 handsets in distribution. Even with Schwartz's optimism, Globalstar is experiencing problems in Europe. Phone shipments for the continent have been delayed until manufacturer Ericson gains regulatory approval for their sale. The OK should come before March 18, Schwartz said.

---

Pegasus-Golden Sky Report Sub Numbers

Pegasus Communications and Golden Sky Systems, Pegasus' acquisition target, reported February subscriber counts for their respective DirecTV businesses. Gross subscriber additions for Pegasus totaled 26,566. Total actual subscribers as of Feb. 29 were 771,052. Pro forma subscribers totaled 1.129 million. Golden Sky Systems added 2,000 net new subscribers during the month, taking its count to 350,500. Both Pegasus and Golden Sky provide DirecTV through the National Rural Telecommunications Cooperative.

---

PanAmSat Ratings Jump

Morgan Stanley Dean Witter raised PanAmSat to an outperform from a neutral rating. The firm set a 12-month target price of $58 per share for PanAmSat. The company's shares on NASDAQ closed up more than $4 to $51.38 during Thursday's trading. PanAmsat, a unit of Hughes Electronics, is one of the world's largest commercial satellite operators. In other satellite stock moves Thursday, British Sky Broadcasting's ADRs on the New York Stock Exchange jumped more than $4 and closed at $200 for the first time. On Monday, the BSY shares reached a 52-week high of $201.88 before tumbling to $197.88 at the close. EchoStar climbed more than $2 to $130.31.

---

House Subcommittee Sets Rural Loan Hearing

The House Telecommunications, Trade and Consumer Protection Subcommittee will hold a hearing on H.R. 3615, the Rural Local Broadcast Signal Act, at 10:00 a.m. Thursday, March 16, in the Rayburn House Office Building. A list of witnesses is not yet available. The subcommittee is expected to vote on the bill later this month. On Wednesday, the Senate Banking Committee approved a similar bill, the Local TV Signals Act.

---

ON TV: Showtime Delivers Free Preview