Musk’s space push forces satellite rivals into merger mode

Pressure from new competitors like Space X have pushed the satellite industry, traditionally wary of mergers, to prepare for consolidation. — AFP

Plans by Elon Musk and Jeff Bezos to launch thousands of satellites into orbit are forcing an industry that’s traditionally wary of mergers to prepare for consolidation.

The billions of dollars that Musk is pouring into his Starlink broadband internet service are skewing the economics of space for companies like SES SA, the world’s second-biggest satellite operator by sales. The growth of streaming over fiber optic networks threatens another of their mainstays – satellite TV.