GlobalStar (GSAT) Ticks Higher as ESA Reverses Position on Revised Proposal

GlobalStar (NYSE: GSAT) advanced Tuesday, rising 10%.The jump was tied to a filing by the Entertainment Software Association. ESA had previously raised concerns about the potential impact of its terrestrial use proposal but it now feels changes address concerns.

"The Entertainment Software Association (“ESA”) has reviewed Globalstar’s Revised Proposal and subsequent proposed modifications. Assuming that the value of P in the alternative OOBE emissions limit set forth above represents Equivalent Isotropically Radiated Power (EIRP), ESA believes that adopting the Revised Proposal using the alternative OOBE emissions limit set forth above, as well as Globalstar’s proposed amendment to the section on “special provisions,” would likely address the technical concerns ESA raised in this proceeding regarding the impact of Globalstar’s proposed terrestrial operations on communications between game consoles and their peripherals," said the ESA.

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