Amazon Eyes Globalstar for Space Internet Boost

0:00Amazon's deep in talks to buy Global Star, that low-earth orbit satellite outfit, aiming to fast track its own space internet push with Project Leo. Global Star shares spiked over 12% in pre-market trading on the buzz, while Amazon dipped nearly 2%. Nothing's locked in yet. These are just negotiations that could still flop. Global Star handles voice calls, data, and tracking for businesses, governments, and everyday folks with a market cap hovering around $9 billion. They hit $273 million in revenue last year, up 9%, thanks in big parts to Apple dropping $1.5 billion for A. 20% stake, and reserving 85% of the network for iPhone emergency SOS texting. Folks are hyped, Global Star's stock has tripled in the past year on takeover whispers. For Amazon, this is about closing the gap on SpaceX's Starlink, which boasts over 9,500 satellites and millions of users pulling, in half or more of SpaceX revenue.

1:01Buying Global Star hands, Amazon ready-made satellites, prime spectrum, and paying customers overnight, dodging headaches like the federal. Communications, commission deadline, to launch 1,600 birds by July 2026 amid launch delays. Apple stake throws a wrench in it, given their rivalry with Amazon everywhere from cloud to streaming, and those locked in iPhone commitments. SpaceX sniffed around before too, but if Amazon pulls this off, the satellites showdown just got way more fierce. You've been listening to Durham News today, AI-powered local news.