Amazon in Talks to Buy Globalstar in $9 Billion Satellite Deal [Yahoo! Finance]
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Source: Yahoo! Finance
the satellite telecommunications group at roughly $9 billion. No agreement has been finalized and discussions could still shift or collapse, people familiar with the matter said. GSAT shares rose in pre-market trading on the news. A key complicating factor is Apple's ( NASDAQ:AAPL ) 20% stake in Globalstar, acquired for $1.5 billion in 2024, which requires Amazon to negotiate separately with Apple. Under that arrangement, Globalstar has reserved 85% of its network capacity for Apple's satellite-based emergency texting feature on iPhones. The deal, if completed, would give Amazon tools to compete with SpaceX's Starlink, which operates more than 10,000 active satellites. Amazon's own constellation, Project Kuiper, has more than 180 satellites in orbit and faces a looming FCC deadline requiring 1,600 launches by July 2026, for which the company has already sought a two-year extension. Amazon plans to reach roughly 700 satellites by mid-year and has signed deals with JetBlue and Del
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