Globalstar Chairman Jay Monroe: Our agreement with Apple starts this autumn. Competing services will take years

by Peter B. de Selding

PARIS — Globalstar Executive Chairman Jay Monroe, whose family’s investment has kept the mobile satellite service in business since 2004, outlined the advantages of the big-splash Apple commitment that Globalstar says is “transformational.”

The long-suspected but not formally confirmed Globalstar-Apple deal, disclosed Sept. 7 at Apple’s annual new-product event, surrenders much Globalstar control to Apple in return for a long-term supply of cash.

Among other things, the agreement commits Apple to paying 95% of the capex associated with a . . .

To view the entire article, become a subscriber!

You may also like