{"id":559242,"date":"2026-04-02T00:50:12","date_gmt":"2026-04-02T00:50:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/559242\/"},"modified":"2026-04-02T00:50:12","modified_gmt":"2026-04-02T00:50:12","slug":"amazon-eyes-9-billion-globalstar-deal-to-rival-spacexs-starlink-ft-reports","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/559242\/","title":{"rendered":"Amazon eyes $9 billion Globalstar deal to rival SpaceX&#8217;s Starlink, FT reports"},"content":{"rendered":"\n<p class=\"yf-1fy9kyt\">April 1 (Reuters) &#8211; Amazon is in talks to buy satellite telecom group Globalstar as it ramps up efforts to build its own \u200clow-earth-orbit satellite business to rival SpaceX&#8217;s Starlink, the Financial Times reported \u200con Wednesday, citing people familiar with the matter.<\/p>\n<p class=\"yf-1fy9kyt\">Globalstar&#8217;s shares, which have more than doubled in \u200bmarket value over the past year, surged 24% to $85 in extended trading following the report. The company had a market cap of $8.81 billion as of last close.<\/p>\n<p class=\"yf-1fy9kyt\">Covington, Louisiana-headquartered Globalstar is known for its low-earth-orbit communication satellites and offers voice, data \u200cand asset-tracking services across \u2060enterprise, government and consumer markets.<\/p>\n<p class=\"yf-1fy9kyt\">Amazon and Globalstar were still negotiating some of the complexities of a potential deal after lengthy \u2060talks, according to the report.<\/p>\n<p class=\"yf-1fy9kyt\">One complicating factor has been <a href=\"https:\/\/www.yahoo.com\/organizations\/apple\/\" data-ylk=\"slk:Apple;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Apple&quot;}\" class=\"link \" rel=\"nofollow noopener\" target=\"_blank\">Apple<\/a>&#8216;s ownership of a 20% stake in Globalstar, necessitating negotiations between Amazon and Apple, the report said.<\/p>\n<p class=\"yf-1fy9kyt\">Globalstar did \u200bnot immediately \u200brespond to Reuters&#8217; request for comment. \u200bAmazon declined to comment.<\/p>\n<p class=\"yf-1fy9kyt\">AMAZON&#8217;S REPORTED DEAL \u200cAN EFFORT TO RIVAL STARLINK<\/p>\n<p class=\"yf-1fy9kyt\">The reported deal comes as Amazon deploys Leo, formerly known as Project Kuiper, involving 3,200 satellites.<\/p>\n<p class=\"yf-1fy9kyt\">Amazon&#8217;s network would be the closest rival to Elon Musk&#8217;s Starlink, which operates a network of more than 9,500 satellites.<\/p>\n<p class=\"yf-1fy9kyt\">Starlink services more than nine million users globally, and generates 50%-80% of \u200cSpaceX&#8217;s revenue.<\/p>\n<p class=\"yf-1fy9kyt\">Its services span individual consumers, businesses and \u200bgovernments, including U.S. national security agencies through \u200bits Starshield variant.<\/p>\n<p class=\"yf-1fy9kyt\">Amazon&#8217;s Leo, with \u200b180 satellites in orbit so far, is targeting similar customers.<\/p>\n<p class=\"yf-1fy9kyt\">Meanwhile, \u200cSpaceX has confidentially filed for a \u200bU.S. initial public offering, \u200btwo people familiar with the matter told Reuters earlier in the day, setting the stage for what could become the largest stock market \u200blisting on record.<\/p>\n<p class=\"yf-1fy9kyt\">Analysts estimate \u200cthat much of SpaceX&#8217;s potential $1.75 trillion potential valuation would be driven \u200bby its Starlink satellite business.<\/p>\n<p class=\"yf-1fy9kyt\">(Reporting by Akanksha Khushi in Bengaluru; Editing \u200bby Shreya Biswas and Sumana Nandy)<\/p>\n","protected":false},"excerpt":{"rendered":"April 1 (Reuters) &#8211; Amazon is in talks to buy satellite telecom group Globalstar as it ramps up&hellip;\n","protected":false},"author":2,"featured_media":559243,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[960,248011,89062,79,193,1513,5408],"class_list":{"0":"post-559242","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-space","8":"tag-amazon","9":"tag-communication-satellites","10":"tag-globalstar","11":"tag-science","12":"tag-space","13":"tag-spacex","14":"tag-starlink"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/559242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=559242"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/559242\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/559243"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=559242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=559242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=559242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}