Published: July 30, 2010
ICO Global Communications Issues Statement Regarding UK Judicial Review Decision
BELLEVUE, Wash. & RESTON, Va. - (BUSINESS WIRE) - ICO Global Communications (Holdings) Limited (NASDAQ: ICOG) ("ICO" or
the "Company" ) announced today that it received an unfavorable ruling in
the judicial review proceedings that it initiated against Ofcom, the
British telecommunications regulatory authority. The Company initiated
the judicial review proceeding in 2009 after Ofcom announced its intent
to request that the International Telecommunications Union (ITU) remove
ICO's global medium earth orbit (MEO) satellite system from the Master
International Frequency Register (MIFR). Today's unfavorable ruling, if
not reconsidered by the judge who issued ruling permits Ofcom to move
forward with the request. Ofcom's request is not binding on the ITU, but
could increase the likelihood that the ITU will initiate proceedings to
cancel ICO's MIFR assignments.
ICO successfully launched the ICO F2 MEO satellite in 2001, which
operates globally in the 2GHz S-band. ICO's remaining ten partially
completed MEO satellites were placed in storage when construction was
suspended in 2004, while the Company pursued claims against The Boeing
Company relating to Boeing's construction and launch of the MEO
satellites. ICO's claims resulted in a $603 million judgment against
Boeing and in favor of ICO in 2008. The judgment is currently on appeal,
with the appeal currently expected to be concluded next year.
"With billions of dollars and more than a decade of effort invested in
deploying our MEO satellite constellation, we continue to take exception
to Ofcom's unprecedented attempt to ask the ITU to remove an existing
operating system from the MIFR. Today's decision, if it stands, is not
binding on the ITU," noted Company chairman and chief executive officer
Ben Wolff. "However, with this decision, it is incumbent on us to
analyze the merits of continuing to provide funding for the operating
expenses associated with our MEO assets, including our F2 satellite."
The ruling, and Ofcom's proposed request to the ITU, will have no impact
on DBSD North America's geostationary satellite, known as G-1, which
provides next generation mobile satellite services to the United States.
About ICO
ICO is based in Reston, Virginia and Bellevue, Washington.
ICO Global Communications
Christopher Doherty, 703-964-1414
christopher.doherty@ico.com
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