-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NFHIbSql/33MV2MUsfBgovX8F+Pvfo7yuWpqs9MvY+O5t61nf8bXLKkouT1+8gNL hxGFxr5C1ZnXVy64NUs67w== 0000950123-99-004351.txt : 19990510 0000950123-99-004351.hdr.sgml : 19990510 ACCESSION NUMBER: 0000950123-99-004351 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990505 ITEM INFORMATION: FILED AS OF DATE: 19990507 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ORION NETWORK SYSTEMS INC/NEW/ CENTRAL INDEX KEY: 0001029850 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 522008654 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-19167 FILM NUMBER: 99614284 BUSINESS ADDRESS: STREET 1: 2440 RESEARCH BLVD STE 400 CITY: ROCKVILLE STATE: MD ZIP: 20850 BUSINESS PHONE: 3012588101 MAIL ADDRESS: STREET 1: 2440 RESEARCH BLVD STREET 2: SUITE 400 CITY: ROCKVILLE STATE: MD ZIP: 20850 FORMER COMPANY: FORMER CONFORMED NAME: ORION NEWCO SERVICES INC DATE OF NAME CHANGE: 19961231 8-K 1 FORM 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): May 5, 1999 LORAL ORION, INC. (Exact name of registrant as specified in its charter) Delaware 0-22085 52-2008654 (State or other (Commission (IRS Employer jurisdiction of File Number) Identification incorporation) Number 2440 Research Boulevard, Suite 400, Rockville MD 20850 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (301) 258-8101 2 Item 5. Other Events. Loral Orion, Inc. ("Loral Orion"), a wholly-owned subsidiary of Loral Space & Communications Ltd. ("Loral"), announced on May 5, 1999 that the Orion 3 broadcast video and data communications satellite was placed in a lower-than-expected orbit after its launch on May 4, 1999 on a Boeing Delta III rocket from Cape Canaveral Air Station, Florida. According to Boeing, the Delta III's second stage apparently failed to complete its second stage burn, and, as a result, the satellite, manufactured by Hughes Spaces and Communications Corporation, achieved an orbit well below the planned final altitude. Data from the satellite is still being received and analyzed to determine the cause of the failure. Based on current information, however, it appears unlikely that the satellite will be usable. The satellite and launch were fully insured for approximately $265 million. DACOM Corporation, a Korean communications company which had purchased eight transponders on Orion 3 for a total of $89 million, had already made some pre-payments in the amount of approximetely $35 million. Under Loral Orions's agreement with DACOM, this amount is subject to refund in the event that Orion 3 fails to commence commercial operation by June 30, 1999. 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LORAL ORION, INC. (Registrant) Date: May 7, 1999 By:/s/ Eric J. Zahler -------------------- Eric J. Zahler Senior Vice President -----END PRIVACY-ENHANCED MESSAGE-----