Electrical Failure Hits PanAmSat Satellite

PanAmSat Corp., the largest commercial-satellite operator, said its satellite that provides some backup television and data services in the U.S. is no longer working after an electrical failure. The Galaxy VII satellite had a malfunction Wednesday in the control system that maintains its position in space. The satellite has been replaced by the company’s Galaxy XI satellite, which was launched in 1999, spokesman Donald Meyer said. The problem won’t affect the company’s revenue target of $1 billion this year or projections for 2001, PanAmSat said. The Greenwich, Conn., company leases and sells space on its 21 satellites to customers who provide TV and data service. Customers will be unaffected because they were transferred to the Galaxy XI satellite this year. The satellite, valued at $130 million, was insured, the company said. The satellite failure is the second this year for PanAmSat.