Loral Space & Communications Inc was formed on June 24, 2005. The Company, together with its subsidiaries, is a satellite communications company engaged in satellite manufacturing with ownership interests in satellite-based communications services. It has only one operating segment consisting of satellite-based communications services. It participates in satellite services operations through its 62.8% economic interest in Telesat Holdings Inc. (Telesat Holdco), which owns Telesat Canada (Telesat), a global fixed satellite services (FSS) operator, with offices and facilities around the world. Telesat owns and leases a satellite fleet that operates in geosynchronous earth orbit approximately 22,000 miles above the equator. In this orbit, satellites remain in a fixed position relative to points on the earths surface and provide reliable, high-bandwidth services anywhere in their coverage areas, serving as the backbone for many forms of telecommunications. At December 31, 2013, Telesat provided satellite services to customers from its fleet of 14 in-orbit satellites. In addition, Telesat owns the Canadian Ka-band payload on the ViaSat-1 satellite and has another satellite, Telstar 12 VANTAGE, under construction. Telesat also manages the operations of additional satellites for third parties. Telesat provides video distribution and direct-to-home (DTH) video, as well as end-to-end communications services using both satellite and hybrid satellite-ground networks. Telesat competes against other global, regional and national satellite operators and with providers of terrestrial-based communications services. The Company is subject to U.S. federal, state and local income taxation on its worldwide income and foreign taxes on certain income from sources outside the United States.