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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Date of Report (Date of
earliest event reported): June 26, 2012</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">Loral
Space &amp; Communications Inc.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">(Exact name of registrant
as specified in its charter)</P>

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    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: center; text-indent: -10pt; border-bottom: Black 0.75pt solid"><B>Delaware</B></P></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid"><B>1-14180</B></P></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid"><B>87-0748324</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; font-size: 10pt; text-align: center; text-indent: -10pt">(State or other jurisdiction<BR> of incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Commission File<BR> Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(IRS Employer<BR> Identification No.)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; font-size: 10pt; text-align: center; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: center; text-indent: -10pt; border-bottom: Black 0.75pt solid">600
        Third Avenue<BR>
        New York, New York</P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">10016</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; font-size: 10pt; text-align: center; text-indent: -10pt">(Address of principal executive offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Registrant's telephone
number, including area code:&ensp;<FONT STYLE="color: windowtext"> </FONT>(212) 697-1105</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Not Applicable</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">(Former name or former
address, if changed since last report)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43pt; text-indent: -23pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-size: 10pt">&#9;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43pt; text-indent: -23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43pt; text-indent: -23pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-size: 10pt">&#9;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43pt; text-indent: -23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43pt; text-indent: -23pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-size: 10pt">&#9;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43pt; text-indent: -23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43pt; text-indent: -23pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-size: 10pt">&#9;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43pt; text-indent: -23pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01 Entry into a Material Definitive Agreement</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On June 26, 2012, Loral Space &amp; Communications
Inc. (the &ldquo;Company&rdquo;) and Space Systems/Loral, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company(&ldquo;SS/L&rdquo;),
entered into a Purchase Agreement (the &ldquo;Purchase Agreement&rdquo;) with MacDonald, Dettwiler and Associates Ltd., a Canadian
corporation (&ldquo;MDA&rdquo;), and MDA Communications Holdings, Inc., a Delaware corporation and a wholly-owned subsidiary of
MDA (&ldquo;Purchaser&rdquo;), pursuant to which the Company has agreed to sell one hundred percent of the equity of SS/L to Purchaser
for $774 million, subject to certain purchase price adjustments set forth in the Purchase Agreement, and certain related real estate
to MDA for a $101 million promissory note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Prior to consummating the sale, SS/L will
(i) be converted into a limited liability company, (ii) transfer the real estate owned by it to a newly formed limited liability
company (the &ldquo;Land LLC&rdquo;), (iii) distribute the equity interests in the Land LLC to the Company, and (iv) pay a dividend
and repay intercompany balances to the Company in an amount equal to $111,851,000, plus $192,500 per day from March 31, 2012 to
the closing of the transaction, plus amounts accrued from March 31, 2012 to the closing of the transaction under the existing Management
Agreement and Shared Services Agreement between the Company and SS/L.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The $101 million promissory note to be received
from MDA will bear interest at the rate of 1% per annum, and will amortize in three equal annual installments commencing March
31, 2013. The note will be backed by a letter of guarantee from Royal Bank of Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the terms of the Purchase Agreement,
the Company will retain control of the pending lawsuit against SS/L and the Company by ViaSat, Inc. as well as the pending countersuit,
and will indemnify SS/L for all Covered Litigation Costs and Covered Litigation Damages (as defined in the Purchase Agreement),
subject to certain capped cost-sharing by SS/L. Under the terms of the Purchase Agreement, following a change of control of the
Company, the liability of the Company for Covered Litigation Damages is subject to a dollar cap.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The closing of the transactions contemplated
by the Purchase Agreement is subject to certain closing conditions, including: (i) that from the date of the Purchase Agreement
to the closing date of the transactions contemplated thereby a Material Adverse Effect (as defined in the Purchase Agreement) shall
not have occurred, (ii) that any required waiting periods (including any extension thereof) applicable to the consummation of the
transactions contemplated by the Purchase Agreement under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended,
shall have terminated or expired, (iii) obtaining the approval of the Committee on Foreign Investment in the United States (CFIUS),
and (iv) other customary closing conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company anticipates that the sale
will be a taxable transaction, with taxes expected to be no greater than $3 per share. Management of the Company currently
anticipates that it will recommend to the Board of Directors that the Board of Directors approve payment to stockholders of a
dividend or other distribution of approximately $26 per share, representing the after-tax proceeds of the transaction
after giving effect to appropriate reserves. There can be no assurance that any dividend or other distribution will be paid
or, if paid, what the amount or timing will be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A copy of the Purchase Agreement is filed
as Exhibit&nbsp;10.1, to this Current Report on Form&nbsp;8-K and is incorporated by reference herein. The above description of
the Purchase Agreements is a summary only and is qualified in its entirety by reference to the complete text of the Purchase Agreement.
The description of the Purchase Agreement and the copy of the Purchase Agreement filed as an exhibit to this Form 8-K are intended
to provide information regarding the terms of the Purchase Agreement and are not intended to modify or supplement any factual disclosures
about the Company or its subsidiaries in its public reports filed with the U.S. Securities and Exchange Commission. In particular,
the Purchase Agreement and related summary are not intended to be, and should not be relied upon as, disclosures regarding any
facts or circumstances relating to the Company or any subsidiary thereof. The representations, warranties, covenants, agreements
and other terms and conditions set forth in the Purchase Agreement have been made solely for the benefit of the parties to the
Purchase Agreement and (i) may be intended not as statements of fact, but rather as a way of allocating the risk to one of the
parties if those statements prove to be inaccurate, (ii) have been qualified by reference to certain information that is not reflected
in the text of the Purchase Agreement, and (iii) may apply standards of materiality in a way that is different from what may be
viewed as material by investors in the Company (including investors that own any debt securities issued by the Company), and therefore
should not be relied upon by any person that is not a party to the Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; font-size: 10pt"><FONT STYLE="font-size: 12pt">&nbsp;</FONT><FONT STYLE="font-size: 10pt"><B>Item&nbsp;9.01.</B></FONT></TD>
    <TD STYLE="padding-top: 5pt; font-size: 10pt; font-weight: bold">Financial Statements and Exhibits.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font-size: 10pt; font-style: italic">(d)</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; font-style: italic">Exhibits</TD></TR>
<TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.75pt solid"><B>Exhibit<BR>
        No.</B></P></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.75pt solid"><B>Description</B></P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; font-size: 10pt">10.1</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font-size: 10pt">Purchase Agreement, dated as of June 26, 2012, by and among Loral
    Space &amp; Communications Inc., Space Systems/Loral, Inc., MacDonald, Dettwiler and Associates Ltd. and MDA Communications
    Holdings, Inc.<SUP></SUP></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 16px">&nbsp;</TD>
    <TD STYLE="width: 10px">&nbsp;</TD>
    <TD STYLE="width: 27px">&nbsp;</TD>
    <TD STYLE="width: 651px">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">LORAL SPACE &amp; COMMUNICATIONS INC.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 43%; padding: 0; font-size: 10pt; text-indent: 0">Date: June 28, 2012</TD>
    <TD STYLE="width: 6%; padding: 0; font-size: 10pt; text-indent: 0">By:</TD>
    <TD STYLE="width: 51%; padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.75pt solid">/s/ Avi Katz</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; font-size: 10pt; text-indent: 0">Name: Avi Katz</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; font-size: 10pt; text-indent: 0">Title: Senior Vice President, General Counsel and Secretary</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>INDEX TO EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

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    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: center; text-indent: -10pt; border-bottom: Black 0.75pt solid"><B>Exhibit
        #</B></P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid"><B>Description</B></P></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">10.1</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 6.95pt; font-size: 10pt">Purchase Agreement, dated as of June 26, 2012, by and among Loral Space &amp; Communications Inc., Space Systems/Loral, Inc., MacDonald, Dettwiler and Associates Ltd. and MDA Communications Holdings, Inc.</TD></TR>
<TR>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 77%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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[{"type": "8-K", "sequence": "1", "filename": "v317134_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 24128}]
{"company-data": {"conformed-name": "LORAL SPACE & COMMUNICATIONS INC.", "cik": "0001006269", "assigned-sic": "3663", "irs-number": "870748324", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14180", "film-number": "12930813"}, "business-address": {"street1": "600 THIRD AVE", "city": "NEW YORK", "state": "NY", "zip": "10016", "phone": "2126971105"}, "mail-address": {"street1": "600 THIRD AVE", "city": "NEW YORK", "state": "NY", "zip": "10016"}, "former-company": {"former-conformed-name": "LORAL SPACE & COMMUNICATIONS LTD", "date-changed": "19960124"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported): June 26, 2012
Loral
Space & Communications Inc.
(Exact name of registrant
as specified in its charter)
Delaware
1-14180
87-0748324
(State or other jurisdiction
of incorporation)
(Commission File
Number)
(IRS Employer
Identification No.)
600
        Third Avenue
New York, New York
10016
(Address of principal executive offices)
(Zip Code)
Registrant's telephone
number, including area code:
(212) 697-1105
Not Applicable
(Former name or former
address, if changed since last report)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement
On June 26, 2012, Loral Space & Communications
Inc. (the "Company") and Space Systems/Loral, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company("SS/L"),
entered into a Purchase Agreement (the "Purchase Agreement") with MacDonald, Dettwiler and Associates Ltd., a Canadian
corporation ("MDA"), and MDA Communications Holdings, Inc., a Delaware corporation and a wholly-owned subsidiary of
MDA ("Purchaser"), pursuant to which the Company has agreed to sell one hundred percent of the equity of SS/L to Purchaser
for $774 million, subject to certain purchase price adjustments set forth in the Purchase Agreement, and certain related real estate
to MDA for a $101 million promissory note.
Prior to consummating the sale, SS/L will
(i) be converted into a limited liability company, (ii) transfer the real estate owned by it to a newly formed limited liability
company (the "Land LLC"), (iii) distribute the equity interests in the Land LLC to the Company, and (iv) pay a dividend
and repay intercompany balances to the Company in an amount equal to $111,851,000, plus $192,500 per day from March 31, 2012 to
the closing of the transaction, plus amounts accrued from March 31, 2012 to the closing of the transaction under the existing Management
Agreement and Shared Services Agreement between the Company and SS/L.
The $101 million promissory note to be received
from MDA will bear interest at the rate of 1% per annum, and will amortize in three equal annual installments commencing March
31, 2013. The note will be backed by a letter of guarantee from Royal Bank of Canada.
Under the terms of the Purchase Agreement,
the Company will retain control of the pending lawsuit against SS/L and the Company by ViaSat, Inc. as well as the pending countersuit,
and will indemnify SS/L for all Covered Litigation Costs and Covered Litigation Damages (as defined in the Purchase Agreement),
subject to certain capped cost-sharing by SS/L. Under the terms of the Purchase Agreement, following a change of control of the
Company, the liability of the Company for Covered Litigation Damages is subject to a dollar cap.
The closing of the transactions contemplated
by the Purchase Agreement is subject to certain closing conditions, including: (i) that from the date of the Purchase Agreement
to the closing date of the transactions contemplated thereby a Material Adverse Effect (as defined in the Purchase Agreement) shall
not have occurred, (ii) that any required waiting periods (including any extension thereof) applicable to the consummation of the
transactions contemplated by the Purchase Agreement under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended,
shall have terminated or expired, (iii) obtaining the approval of the Committee on Foreign Investment in the United States (CFIUS),
and (iv) other customary closing conditions.
The Company anticipates that the sale
will be a taxable transaction, with taxes expected to be no greater than $3 per share. Management of the Company currently
anticipates that it will recommend to the Board of Directors that the Board of Directors approve payment to stockholders of a
dividend or other distribution of approximately $26 per share, representing the after-tax proceeds of the transaction
after giving effect to appropriate reserves. There can be no assurance that any dividend or other distribution will be paid
or, if paid, what the amount or timing will be.
A copy of the Purchase Agreement is filed
as Exhibit 10.1, to this Current Report on Form 8-K and is incorporated by reference herein. The above description of
the Purchase Agreements is a summary only and is qualified in its entirety by reference to the complete text of the Purchase Agreement.
The description of the Purchase Agreement and the copy of the Purchase Agreement filed as an exhibit to this Form 8-K are intended
to provide information regarding the terms of the Purchase Agreement and are not intended to modify or supplement any factual disclosures
about the Company or its subsidiaries in its public reports filed with the U.S. Securities and Exchange Commission. In particular,
the Purchase Agreement and related summary are not intended to be, and should not be relied upon as, disclosures regarding any
facts or circumstances relating to the Company or any subsidiary thereof. The representations, warranties, covenants, agreements
and other terms and conditions set forth in the Purchase Agreement have been made solely for the benefit of the parties to the
Purchase Agreement and (i) may be intended not as statements of fact, but rather as a way of allocating the risk to one of the
parties if those statements prove to be inaccurate, (ii) have been qualified by reference to certain information that is not reflected
in the text of the Purchase Agreement, and (iii) may apply standards of materiality in a way that is different from what may be
viewed as material by investors in the Company (including investors that own any debt securities issued by the Company), and therefore
should not be relied upon by any person that is not a party to the Purchase Agreement.
Item 9.01.
Financial Statements and Exhibits.
(d)
Exhibits
Exhibit
No.
Description
10.1
Purchase Agreement, dated as of June 26, 2012, by and among Loral
    Space & Communications Inc., Space Systems/Loral, Inc., MacDonald, Dettwiler and Associates Ltd. and MDA Communications
    Holdings, Inc.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
LORAL SPACE & COMMUNICATIONS INC.
Date: June 28, 2012
By:
/s/ Avi Katz
Name: Avi Katz
Title: Senior Vice President, General Counsel and Secretary
INDEX TO EXHIBITS
Exhibit
        #
Description
10.1
Purchase Agreement, dated as of June 26, 2012, by and among Loral Space & Communications Inc., Space Systems/Loral, Inc., MacDonald, Dettwiler and Associates Ltd. and MDA Communications Holdings, Inc.