Intense Competition from Diverse Technologies: The satellite and video distribution industries are highly competitive, facing challenges from traditional rivals, streaming services, and emerging terrestrial broadband and low-earth orbit (LEO) satellite providers, which could erode market share and profitability.

High Capital Expenditures and Debt Levels: Operating a satellite-based business requires significant capital investment in satellite construction, launches, and ground infrastructure, contributing to substantial debt that could limit financial flexibility and increase exposure to interest rate fluctuations.

Satellite Launch and On-Orbit Operations Failures: Risks associated with satellite operations include launch vehicle failures, on-orbit satellite malfunctions, collision with space debris, or unexpected degradation, any of which could result in loss of service, significant repair costs, or replacement expenses not fully covered by insurance.