Show Me the Space Bucks: Spacecom Demands SpaceX Pay Up

Last week’s explosion on the launchpad could cost SpaceX more than just the destroyed rocket.

FOX’s Pat O’Neill has more: 

The Israeli communications company Spacecom, which lost one of its satellites in the accident last Thursday, is demanding $50 million or a free flight from SpaceX. Spacecom says it could also collect $205 million from Israel Aerospace Industries, which built the ill-fated satellite.

SpaceX, owned by billionaire Elon Musk, hasn’t said how much insurance it had beyond what’s required by the FAA.

It’s also unclear if a merger deal involving Spacecom and a Chinese tech firm is in jeopardy. SpaceX, meanwhile, has lined up 70 future space missions worth more than $10 billion for company and government sponsors.

Last week’s rocket explosion is still under investigation.

Pat O’Neill, FOX News.