[SatNews] CMMB Vision Holdings, a developer of mobile television and interactive multimedia businesses based on the China Mobile Multimedia Broadcasting (CMMB) standard, stated the company has entered into a memorandum of understanding with New York Broadband II (NYBB II) to acquire its L-band “AsiaStar” satellite platform.

(See also http://www.satnews.com/story.php?number=523198957 )

In a filing with the Hong Kong stock exchange, it said “NYBB II, through its subsidiary, has completed the necessary filings to the International Telecommunication Union (ITU), an organ of the United Nations, for its next generation high-power satellite, named Silkwave-1.”

The satellite network will operate in the L-band frequency range (1452-1492 MHz) that is globally allocated for BSS. The filings were submitted to the ITU by the administration of Papua New Guinea, and this formally starts the international procedure to construct, coordinate, launch and operate the next generation high-power satellite.

The firm also announced that NYBBII has entered into an Authorization To Proceed (ATP) agreement with Boeing to commence construction of “Silkwave-1,” which is expected to launch in late 2017.

Silkwave-1 will cover China, India, and the Asian “One-Belt-One-Road” countries.

Story is courtesy of South China Morning Post by Sandy Li