AssetID: 55595773
Headline: UNCAPTIONED: Amazon in Talks to Buy Globalstar to Rival Elon Musk's Starlink
Caption: Amazon in Talks to Buy Globalstar to Rival Elon Musk’s Starlink. The company is planning to acquire U.S. satellite company Globalstar as it seeks to expand its space-based internet business: the firms are still negotiating the terms after lengthy discussions. The potential deal is aimed at strengthening Amazon’s effort to compete with Elon Musk’s Starlink network, which recently filed papers for what could be the largest-ever public stock offering. Globalstar operates low-Earth orbit satellites that provide voice and data services to governments, businesses and consumers: neither Amazon nor Globalstar has publicly commented. One complication is Apple’s 20% stake in Globalstar, which could influence the outcome of the talks. Amazon, founded by Jeff Bezos as an e-commerce website, is now developing its own satellite network, known as Project Kuiper or ‘Leo’ to deliver broadband services. The multinational has already launched a number of satellites but remains far behind Starlink’s large global network. If completed, the acquisition could accelerate Amazon’s entry into the fast-growing satellite internet market. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Science & Technology,Globalstar,Elon Musk,Jeff Bezos,Apple,Amazon,Starlink,acquisition,business,firms,satellite,internet,race,communications,negotiations
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