DENVER - WildBlue Communications Inc.
has pulled a $200-million initial public offering, citing adverse market conditions.
WildBlue hopes to provide high-speed Internet service via Ka-band satellite and plans to launch its first bird in 2002. The company has already raised $239 million in equity financing and another $146 million in vendor financing.
Backers include Liberty Media Group Inc., EchoStar Communications Corp., Gemstar-TV Guide International Inc., Kleiner Perkins Caufield & Byers, Telesat Canada and TRW Inc.
The company is developing spot-beam satellite technology to deliver two-way, high-speed Internet access to areas in which cable modems and digital subscriber line service are unavailable. It has an agreement with EchoStar to jointly market and distribute bundled WildBlue and
Dish Network services.