NewSat was an independent satellite communications provider in Australia. Its satellites, VSATs and teleports provided coverage to 75% of the earth’s surface. NewSat was founded on 28 March 1987, then named as Yalfaga. Its name was later changed to Browns Creek Gold and then Australian Environmental Resources. In 1999 the company was purchased by NewSat's CEO Adrian Ballintine and renamed MultiEmedia.com. With the help of Microsoft co-founder Paul Allen owning 3%, and with Steve Vizard on the board, it became a profitable web development company, developing the websites for well known brands such as Thrifty Car Rental, Hamilton Island and Nissan Australia. It also sold its own in-house products, such as ZoneStudio, a web development tool, and IntraZone, an early SharePoint like intranet application. It survived the dotcom crash, and with the purchase of New Skies Networks and its teleport facilities in Adelaide and Perth in 2005, it evolved into a fully-fledged satellite communications company, changing its name to NewSat on 1 September 2006. Most of NewSat's customers were located in Australia, the Middle East and Africa. With the withdrawal of combat troops in Afghanistan and with the Australian mining boom winding down, the services for NewSat's teleport business started to wane. Having made a $39.7 million loss in the second half of 2014, and with $300 million in outstanding loan repayments, NewSat was placed in administration in mid April 2015,. Over the next few months as funding difficulties ensued, its contracts with Lockheed Martin and Arianespace was terminated, and its main asset sold to SpeedCast Australia Pty Limited.
It’s been almost five years since satellite communications provider NewSat collapsed, owing about $300 million to US and European banks and another $200 million to retail investors. The Age - Published