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Telesat posts big loss due to one-time charges

Telesat Holdings Inc. reported yesterday an $822-million loss for 2008 as the privately held satellite operator and former BCE Inc. unit booked $1.18-billion in one-time charges. Ottawa-based Telesat, which operates a fleet of 13 satellites, booked a $698-million non-cash foreign exchange loss related to its U.S.-dollar debt and a one-time, non-cash loss of $483-million related to the impairment of intangible assets. Revenues rose 6 per cent to $711-million.

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