Dec 1 1977
From The Space Library
The Communications Satellite Corporation (ComSatCorp) reported it would proceed with its plan to buy back its common stock [see Nov. 11], noting that the FCC had authorized it to borrow $25 million to finance part of the cost of the repurchase. A letter to stockholders said the corporation would contest FCC's attempt to make it put more money in an escrow fund for possible repayments to customers, because it said the FCC's action was "neither lawful nor appropriate." (ComSatCorp Releases 77-31, 77-32)
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