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August 2, 1993 | From Times Staff and Wire Reports
Satellite TV Bid Thrown Out: Two upstart companies that surprised financial markets by winning a bid for the Australian government's satellite license conceded Friday that they could not come up with the cash by a midnight deadline. Sydney-based UCOM Pty Ltd. and Hi Vision Ltd. won the bid with what were considered extravagant total bids of close to $273 million. They were required by the federal government to pay just a $341 submission fee each.
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August 2, 1993 | From Times Staff and Wire Reports
Satellite TV Bid Thrown Out: Two upstart companies that surprised financial markets by winning a bid for the Australian government's satellite license conceded Friday that they could not come up with the cash by a midnight deadline. Sydney-based UCOM Pty Ltd. and Hi Vision Ltd. won the bid with what were considered extravagant total bids of close to $273 million. They were required by the federal government to pay just a $341 submission fee each.
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