Multicultural Media, Telecom and Internet Council

Art of the Deal: Syncom, Iridium, and the $50 Million Bet – A Case Study in Multicultural Investment Success

Description: The Iridium satellite system is best known for being the Star Wars of satellite systems. With a constellation of 66 satellites in polar orbit, you could call Tibet from Fiji in an instant. But months after Motorola launched it, Iridium’s promise made a crash landing with an $11 billion bankruptcy – at the time the largest bankruptcy in U.S. history. The Iridium story is told in a new book called Eccentric Orbits by John Bloom. But the Iridium story is also an MMTC story. During this special session, Syncom-Iridium Holdings Corp. investor group principals took the audience on a riveting and little-known case study of the investors of color who stepped up to the plate, investing over $50 million to save Iridium, and the major role they, and the FCC, played in one of the greatest deals of all time.

Moderator: Maurita K. Coley, Vice President and Chief Operating Officer, MMTC

Panelists: Hon. Tyrone Brown, Consulting Counsel, Wiley Rein LLP; Former Commissioner, Federal Communications Commission

Terry L. Jones, Managing Partner, Syncom Venture Management Company, LLC

Thursday, July 14, 2016 View the photo gallery of the session here .