Intelsat, launcher of 1st commercial communications satellite, files for bankruptcy
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Satellite operator Intelsat, which launched the world's first commercial communications satellite Intelsat 1 in 1965, filed for Chapter 11 bankruptcy Wednesday (May 13) in order to ease a multibillion-dollar debt and join an FCC spectrum clearing program. This vast entity was born from the Cold War, having been instigated by John F Kennedy in 1961 as part of the space and technology races with the USSR.