said the Galaxy VII, a backup satellite that provides occasional services in the U.S., has stopped transmissions because of the failure of an onboard system responsible for controlling the spacecraft.
The company doesn't expect the satellite to resume operations.
The satellite and communications company, which is based in Greenwich, Conn., and is majority owned by
( GMH), said the loss of the Galaxy VII won't affect its expected fiscal 2000 revenue of about $1 billion or its 2001 guidance. The satellite was insured for about $130 million.