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GlobalStar's Event App

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World's smallest satellite phone

Globalstar introduced its new GSP-1700 mobile satellite telephone that is roughly half the weight and size of its previous satellite phones.

By November 9, 2006


U.K. firm nabs Globalstar majority stake

A court awards cellular pioneer Craig McCaw's ICO Global Communications a majority stake in the bankrupt U.S. satellite phone provider--as long as it invests $55 million.

By April 28, 2003


Globalstar floats $10 million loan

The provider of satellite phone service says a U.S. bankruptcy court has approved a financing deal meant to keep it afloat while it seeks new investors.

By February 21, 2003


Good news kills Globalstar deal

An FCC ruling is both good and bad for the bankrupt satellite phone company. It forces cellular carriers to open networks to satellite firms but leads to a scrapped funding deal.

By February 3, 2003


Globalstar gets $55 million infusion

The satellite phone company reaches a deal to erase $2 billion in debt, a final step before it emerges from bankruptcy protection.

By January 15, 2003


Globalstar to file for bankruptcy

Satellite telephone company Globalstar Telecommunications plans to file for bankruptcy by the end of the year as part of its restructuring, the company said. Globalstar, which stopped making debt payments to its creditors earlier this year, is facing $3.3 billion in debt. According to terms of a deal now in discussions, Globalstar would file for bankruptcy, then creditors and Loral Space & Communications and Qualcomm, the two companies that originally formed Globalstar in 1991, would own the new entity. Qualcomm would then take over the operations.

By November 15, 2001


Globalstar's pain may hurt partners

Satellite-telephone operator Globalstar Telecommunication's efforts to conserve cash produces a ripple effect for companies such as Qualcomm and Loral.

January 16, 2001


Globalstar to offer short message service

The U.S. division of Globalstar Telecommunications, a satellite-based wireless telephone operator, is offering customers a way to send each other short text messages. For a limited time, Globalstar customers will be able to send 19-character text messages free of charge, the company announced Monday. To send a message, customers should visit the Globalstar Web site. Once at the site, customers can enter a 10-digit satellite phone number of the person to get the message, followed by any combination of numbers, letter or symbols.

By June 18, 2001


Globalstar may file for bankruptcy protection

The satellite-based mobile phone company says it may seek bankruptcy protection if it cannot raise more cash or agree to a restructuring plan with creditors.

April 2, 2001