Federal Communications Commission  FCC 07-220
STATEMENT OF COMMISSIONER 
MICHAEL J. COPPS, CONCURRING
Re:  Intelsat Holdings, Ltd., Transferor, and Serafina Holdings Limited, Transferee Consolidated 
Application for Consent to Transfer Control of Holders of Title II and Title III Authorizations, IB 
Docket No. 07-181, Memorandum Opinion and Order
Today’s decision substitutes one group of private equity firms for another group of private equity 
firms as owners of the world’s largest provider of fixed satellite services.  While I have no reason to
believe that this latest group of owners will operate the company with more or less concern for the public 
interest than the previous group, I concur in today’s decision because the Commission still has not 
conducted a comprehensive investigation into the effects of private equity investment on Commission 
licensees.  
We need to start looking at these important questions and we need to do so quickly.  We simply 
cannot discharge our public interest responsibilities in a piecemeal fashion.  It is high time to conduct a
general analysis of how this significant change in our commercial-financial system affects the ability of 
the FCC to carry out its responsibilities and then apply these principles to every private equity transaction 
that comes before us.