Intelsat eyes $400 million of debt reduction in 2014, considers possible acquisitions, says CEO

By Lisa Kerner

Charlotte, N.C., May 20 - Intelsat SA's focus, or "job one," in 2014, is debt reduction, according to chairman and chief executive officer David McGlade.

He reiterated the company's guidance of $400 million of debt reduction this year during a presentation at the J.P. Morgan Global Technology, Media and Telecom Conference in Boston on Tuesday.

When asked about acquisitions, McGlade said foreign ownership of Intelsat doesn't always make acquisitions easy to accomplish. However, if an asset "makes sense, we would go after it," he said.

When evaluating assets, Intelsat considers whether it will fit with the current portfolio and the effect on shareholder dilution.

Intelsat is a Luxembourg-based provider of satellite services.

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