PARIS — Globalstar Executive Chairman Jay Monroe, whose family’s investment has kept the mobile satellite service in business since 2004, outlined the advantages of the big-splash Apple commitment that Globalstar says is “transformational.”
The long-suspected but not formally confirmed Globalstar-Apple deal, disclosed Sept. 7 at Apple’s annual new-product event, surrenders much Globalstar control to Apple in return for a long-term supply of cash.
Among other things, the agreement commits Apple to paying 95% of the capex associated with a . . .
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