Subsequent Event

9 Months Ended

Dec. 31, 2015

Subsequent Events [Abstract]

Subsequent Event

Note 12 — Subsequent Event

In January 2016, the Company entered into an additional launch services agreement with a third party for one satellite for approximately $115.0 million.

In February 2016, the Company also entered into a framework and subscription agreement (the Framework Agreement) with Eutelsat S.A. (together with its affiliates, Eutelsat), pursuant to which the Company and Eutelsat have agreed to enter into a strategic partnering arrangement to own and operate satellite broadband infrastructure and equipment and provide broadband services and products in the European region. Under the Framework Agreement, Eutelsat will contribute and transfer to a newly formed subsidiary of Eutelsat assets relating to Eutelsat’s existing wholesale satellite broadband business (including its KA-SAT satellite), the Company will purchase 49% of the issued and outstanding shares of the entity from Eutelsat for approximately €132.5 million and Eutelsat will purchase 49% of the issued and outstanding shares of a second newly formed subsidiary of ViaSat (which under the partnering arrangement will provide retail satellite-based broadband internet services in the European region) for an immaterial amount. Also at the closing, the Company and Eutelsat will enter into shareholders’ agreements with respect to the ownership, management and operation of the two entities. The closing of the transactions under the Framework Agreement is subject to customary conditions, including the receipt of required regulatory approvals and third-party consents. The Company currently anticipates that the closing will occur in the first quarter of fiscal year 2017. The Company intends to finance the purchase price for the 49% interest in the Eutelsat subsidiary using borrowings under the Revolving Credit Facility.