TerreStar Announces New Chairman William Freeman to Lead TerreStar's Continued Evolution
Posted on Thu, Jan 25, 2007
Reston, VA, January 25, 2007 - TerreStar Networks Inc., a majority-owned subsidiary of Motient Corporation (MNCP), announced today that William Freeman was elected and will serve as its chairman of the board. Mr. Freeman has served as a director on TerreStar's board since May 2005.
"I could think of no one better to take the reins as I join David Grain from Motient in our transition to focus on TerreStar Global's continued development," said Jared (Jerry) Abbruzzese, former chairman of TerreStar Networks Inc. "I recommended him to the board, I nominated him for appointment and I have full confidence in his abilities. He has served TerreStar with distinction and has a strategic, clear and focused vision to bring TerreStar to market."
"In 2005, we had an exciting idea to build the nation's first integrated mobile satellite/terrestrial communications network. Today that idea is on the brink of reality," said William Freeman, chairman of the board, TerreStar Networks Inc. "I look forward to building on the success of the last couple of years and continuing to grow value for our shareholders. This is an exciting time for TerreStar and I'm honored to help lead this opportunity to transform mobile communications."
"Bill brings years of telecommunications and operations experience that will help lead TerreStar as we mature from a development-phase company to one focused on execution and operations," said Robert H. Brumley, president and CEO of Motient Corporation and its subsidiary TerreStar Networks Inc. "This is a natural evolution for us both and I'm pleased he will assume a greater leadership role as we bring into reality the nation's first integrated satellite/terrestrial communications network."
William M. Freeman has served as a director of TerreStar's board since May 2005, and served as chairman of its audit committee and compensation committees. From 2004 to 2005, Mr. Freeman was the CEO of Leap Wireless International, Inc. From 1994 to 2004, Mr. Freeman was a senior executive at Verizon. He served as president - Public Communications Group from 2000 to 2004. From 1998 to 2000, Mr. Freeman was president and CEO of Bell Atlantic-New Jersey and from 1994 to 1998 he served as president and CEO of Bell Atlantic-Washington D.C. Mr. Freeman currently is a member of the board of directors of the CIT Group, Inc., a publicly traded company, and Value Added Communications, Inc., a privately held company. He is vice chairman of the Board of Trustees of Drew University and a member of the board and a past chairman of the board of Junior Achievement Worldwide.
About TerreStar Networks Inc.
TerreStar(www.terrestar.com), a subsidiary of Motient Corporation (MNCP), plans to build, own and operate North America's first next-generation integrated mobile satellite and terrestrial communications network that will provide universal access and tailored applications throughout North America over conventional wireless devices. With a first-to-market launch strategy in 2008, TerreStar expects to offer customer-designed products and applications over a fully optimized 4G IP network.
About TerreStar Global
TerreStar Global, a subsidiary of Motient Corporation (MNCP), plans to build, own and operate a Pan-European resilient, interoperable two-way communications network to address public protection and disaster relief as well as provide broadband connectivity in rural regions to help narrow the digital divide. As Europe's first next-generation integrated mobile satellite and terrestrial communication network, TerreStar Global plans to deliver universal access and tailored applications over a fully-optimized IP network. TerreStar Global is a Bermuda registered company.
About Motient Corporation
Motient is the controlling shareholder of TerreStar Networks Inc. and TerreStar Global Ltd., and a shareholder of SkyTerra Communications and Mobile Satellite Ventures LP. For additional information on Motient, please visit the company's website at www.motient.com.
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This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the strategy of Motient, its plans, and the transactions described in this press release. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, proposed, potential and similar words and terms in connection with future results.
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Media Contact:
Andrew Krejci
Motient Corporation/TerreStar Networks
703.483.7856
andrew.krejci@terrestar.com