LA PLATA, Maryland — Satellite fleet operator Telesat reported a 7% decline in revenue and a 6% drop in adjusted EBITDA for 2023 and said 2024 would be much worse — revenue down another 21%, EBITDA down 34.5% — as it withstands the decline of its geostationary-orbit-satellite business and looks toward its Lightspeed constellation of low-orbiting broadband satellites.
The decline in the geostationary market is two-fold: a steady reduction in satellite-television revenue with the move to streaming services and, on the enterprise side, the advance of SpaceX . . .
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