AEROSPACE

Comsat, Government Agree on Intelsat Restructuring: The Bethesda, Md.-based firm said it reached an agreement with the U.S. government on a proposal to restructure the international organization that provides global satellite network services for telecommunications and broadcasting. Comsat Corp. said the proposal calls for dividing Intelsat into two separate entities through the creation of a new Intelsat affiliate company. Intelsat’s assets would be divided almost evenly between the existing organization and the new company. The existing intergovernmental organization would continue to provide basic public network services as a cooperative. The new company would be publicly funded and free to pursue other market opportunities worldwide on a fully commercial and competitive basis, Comsat said. Comsat shares soared $2.875 to $25.375 on the New York Stock Exchange.