[Satellite TODAY 05-11-10] Satelites Mexicanos de C.V. (Satmex) officially contracted Space Systems/Loral (SS/L) to build the Satmex 8 satellite after placing a $2 million down payment on the order in April, SS/L announced May 10.
    The Satmex 8 C- and Ku-band satellite will replace Satmex 5 at 114.9 degrees West to provide FSS capacity in North and South America and augment the current Satmex fleet with broadband, voice and data transmission, and video broadcasting services.
     The total cost of the new satellite is about $350 million, with a $65 million down payment due to the manufacturer by September. The order follows EchoStar Satellite’s March termination of its $374 million stock purchase 
agreement with MVS Comunicaciones to acquire
Satmex, which cast doubts on the company’s ability to fund a new satellite on its own. Satmex, which is partially owned by Loral Space & Communications and the Mexican government, currently has a principal amount of about $523 million of debt in default.