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The Philter
The Philter
The Philter

12:30 PM -- Our favorite press release from this morning's PR pile comes from SkyTerra Communications.

You can just tell from the first sentence that it's going to be a doozy:

SkyTerra Communications, Inc. (OTCBB:SKYT) announced today that it acquired a 22% equity stake in the MSV Joint Venture on an undiluted basis by converting the $51 million of MSV Joint Venture notes that it originally purchased in November 2001 into partnership units of MSV at their original conversion price of $6.45 per unit.

Confused? Don't be. I've diagrammed the sentence (or something) right here.

— Phil Harvey, News Editor, Light Reading

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