WildBlue is in the money
Satellite broadband outfit WildBlue Communications received $350 million from a group of investors led by John Malone's Liberty Media and Tennenbaum Capital Partners LLC.
The $350 million of secured financing will allow the company to refinance some debt. Of the total, $170 million will be available to fund the continuing growth of WildBlue's broadband business. In June, WildBlue cut a deal to wholesale broadband services to both DirecTV and EchoStar's DISH Network.
WildBlue now claims over 85,000 customers, most of them in rural areas where broadband data services are otherwise unavailable. The company says it is adding over 10,000 new subscribers per month.
WildBlue said it plans to launch a second satellite to expand capacity.