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Bellevue, Wash.-Based Internet Firm, Partner Have Lost about $1 Billion.
Byline: Roger Yu
Sep. 21--Teledesic and New ICO, which agreed to merge earlier this year, disclosed yesterday that they collectively have lost about $985.3 million since their inception, one significant detail found in a new government filing.
The Securities and Exchange Commission documents offer the first glimpse at the companies' financial states and business plans as they pursue their "Internet-via-satellite" plan.
In the documents, filed to register new shares to be distributed after the merger is complete, the companies said London-based New ICO, formerly ICO Global Telecommuincations, lost $592.6 million since it was founded in 1995. …
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