EXHIBIT 99.1
Press Release Dated May 3, 2006
[Motient Logo]
Media Contacts:
Winnie Lerner
Jessica Liddell
Abernathy MacGregor
212/371-5999
Motient Corporation Names Director Nominees
May 3, 2006 - Lincolnshire, IL - Motient Corporation (MNCP) announced today the
candidates for election at its 2006 annual stockholder's meeting, chosen by the
nominating committee of Motient's Board of Directors. The Company intends to
file its preliminary proxy statement and set the record date for its Annual
Shareholder Meeting in the next few days.
The slate chosen by the nominating committee consists of: Raymond Steele, David
Meltzer, Jacques Leduc, David Grain and David Andonian - all of whom are current
Board members - as well as Robert Brumley, the current President and CEO of
TerreStar Networks Inc. These individuals bring a wealth of knowledge and
operational experience in the communications industry to Motient. Motient
believes that these Board members will help to guide the development of
Motient's strategic plan and will continue to represent and protect the
interests of Motient's shareholders.
Current Board members Gerald Goldsmith, Gerald Kittner, Steven Singer, Jonelle
St. John and Barry Williamson will not stand for re-election. These individuals
have provided Motient with invaluable expertise and direction over the last few
years. Under their direction, Motient has successfully increased its equity
value over 1,000% since 2002.
Commenting on the announcement, Gerald Kittner, Chairman of Motient's Nominating
Committee, stated, "I am proud to have served Motient over the past several
years, as are my colleagues on the Board. Together, we have navigated the
company forward despite the adversarial initiatives of Mr. Dondero and Highland
Capital. Though meritless, Mr. Dondero's attacks increased the complexity of
many issues, yet the Board was able to accomplish each one of its goals."
"For the past several months, we have been working to identify a new team of
highly competent and committed individuals who, along with Mr. Steele, are
prepared to take Motient into its next phase. We feel confident we have done so,
and we wish them well."
Nominees:
David Andonian currently serves as the Chairman of the Board of Affinnova, Inc.,
a privately-held marketing services company, and has held this position since
May, 2003. He also served as Affinnova's Chief Executive Officer from January
2004 to December 2005. From December 1997 to September 2002, Mr. Andonian served
as President of Corporate Development and as President and Chief Operating
Officer of CMGI, Inc., a publicly traded Internet marketing and infrastructure
provider. Mr. Andonian is a graduate of the Isenberg School of Management at the
University of Massachusetts.
Robert Brumley has been President and CEO of TerreStar Networks since August
2005. Prior to joining TerreStar, he was the founder and managing member of
Pegasus Global LLC, an international development and advisory services firm
specializing in technology, capital formation, and market strategies and
solutions for domestic and international companies from January 2002 until
August 2005. He is currently a director of iBasis Networks, and holds a law
degree from the University of Tennessee.
David Grain has served as the managing member and founder of Grain Capital, a
private equity and venture capital firm that invests primarily in the wireless
telecommunications sector since January 2006. From January 2003 to December
2005, he served as president of Global Signal, Inc. (formerly Pinnacle Towers),
a publicly traded independent wireless communications tower company. From May
2000 to January 2003, Mr. Grain served as Senior Vice President of AT&T
Broadband's New England region. Mr. Grain holds a B.A. in English from the
College of the Holy Cross and an M.B.A. from the Amos Tuck School at Dartmouth
college with a concentration on Finance and Business Strategy.
Jacques Leduc is the Founder and Managing Partner of Trio Capital Inc., a
private equity and venture capital firm that invests primarily in
telecommunications and new media. Previously, he held several positions
including Chief Financial Officer, Vice President of Finance and Director
Corporate Planning, at Microcell Telecommunications, Inc., a Canadian wireless
operator. Mr. Leduc holds a Masters degree in Business Administration from Ecole
des Hautes Etudes Commerciales de Montreal and a Bachelors degree in Business
Administration from the Universite du Quebec a Montreal. Mr. Leduc also serves
as a member of the Board of Directors of Rural Cellular Corporation, Inc., a
wireless communications services provider.
David Meltzer has served as Senior Vice President for International Services for
the American Red Cross since July 2005. From October 2001 to February 2005, Mr.
Meltzer served as General Counsel and Executive Vice President for Regulatory
Affairs and from December 1999 to September 2001 as Vice President and General
Counsel for INTELSAT, Ltd., a publicly traded satellite communications company.
From 1989 to December 1999, Mr. Meltzer served in various other positions with
INTELSAT, including as Senior Director in the Corporate Restructuring Division.
Mr. Meltzer holds a B.A. in International Relations from the University of
Pennsylvania and a J.D. from George Washington University National Law Center.
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Raymond L. Steele has served on Motient's board since May 2004. Mr. Steele is
also a member of the Board of Directors of Horizon Offshore Dynabazaar, Globix
Corporation and American Banknote Corporation. From August 1997 until October
2000, Mr. Steele served as a Board member of Video Services Corp. Prior to his
retirement, Mr. Steele held various senior positions such as Executive Vice
President of Pacholder Associates, Inc. (from August 1990 until September 1993),
Executive Advisor at the Nickert Group (from 1989 through 1990), and Vice
President, Trust Officer and Chief Investment Officer of the Provident Bank
(from 1984 through 1988).
-more-
About Motient Corporation:
Motient is a nationwide provider of terrestrial wireless data solutions for
Fortune 500 companies and the small to medium size enterprise business market.
Motient provides access to multiple networks platforms, including GPRS, 1XRTT
and its own DataTac Network. Motient simplifies the wireless experience for
application providers, hardware vendors, value added resellers and customers by
offering proprietary applications, one source support and wireless consulting
services that enhance the performance, efficiency and cost-effectiveness of
enterprise wireless networks.
Motient is also the controlling shareholder of TerreStar Networks Inc., a
development-phase satellite communications company, and a minority shareholder
of Mobile Satellite Ventures, LP, an established satellite communications
company. TerreStar and MSV are both in the process of developing next-generation
hybrid networks that plan to provide ubiquitous wireless service by integrating
land-based towers and powerful satellites. These new networks will deliver
services to standard wireless devices everywhere in North America. For
additional information on Motient, please visit the company's website at
www.motient.com.
Other Information
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Motient Corporation and its directors and executive officers may be deemed to be
participants in the solicitation of proxies or consent revocations from
stockholders of Motient. Information regarding the names of Motient's directors,
executive officers and their respective interests in Motient by security
holdings or otherwise is set forth in Motient's proxy statement relating to the
2005 annual meeting of stockholders, which may be obtained free of charge at the
SEC's website at www.sec.gov and Motient's website at www.motient.com.
Motient Corporation intends to file a Proxy Statement or Consent Revocation
Statement on Schedule 14A with the SEC. Investors and security holders are
advised to read Motient's Proxy Statement or Consent Revocation Statement, when
it becomes available, because it will contain important information. Investors
and security holders may obtain a free copy of the Proxy Statement or the
Consent Revocation Statement on Schedule 14A (when filed) free of charge at the
SEC's website at www.sec.gov. Motient Corporation also will provide a copy of
these materials without charge on its website at www.motient.com.
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