Communications Satellite Corporation

OBS: COMSAT, or the Communications Satellite Corporation, was created in 1962 with the passage of the Communications Satellite Act. The act authorized the formation of a private corporation to administer satellite communications for the United States. COMSAT was given responsability for many activities including the development of a global satellite communications system, the acquisition and maintenance of ground stations around the world, and the development of new satellite technologies. COMSAT is governed by a Board of Directors elected by the company's shareholders and the president of the United States. Half of the company's shares are owned by major companies such as AT and T, ITT, and Western Union, and the rest are held by members of the public. COMSAT has offices worldwide and its headquarters are located in Washington, D.C.