Loral Space & Communications

(LOR) - Get Report

is considering several moves, including a combination with Luxembourg-based

Societe Europeenne des Satellites

, to bolster its stock price, according to a

Wall Street Journal

report.

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Other possible moves include the sale of an equity stake or an alliance, according to the report.

The satellite communications company also plans to cut off new financial support to

Globalstar Telecommunications

(GSTRF)

, its 40%-owned satellite telephone project.

Loral CEO Bernard Schwartz said in a Friday interview that talks are underway with SES about "strategically linking up," but not necessarily merging, the satellite services units of the two firms.

Loral shares are down nearly 80% since the beginning of the year. They closed Friday at $5.19.