On October 5, 2007 Loral Space & Communications Inc. and the Public Pension Investment Board of Canada received the final regulatory approval necessary to complete the acquisition of Telesat from BCE Inc. for CAD $3.25 billion. The acquisition closed on October 31, 2007, with Loral owning 64 percent of Telesat.
At the same time, Telesat Canada merged with Loral Skynet, a subsidiary of Loral Space & Communications. Loral Skynet was a full-service global satellite operator headquartered in Bedminster, New Jersey. This resulted in the transfer of all of the assets of Loral Skynet to Telesat.
The company is now the fourth-largest fixed satellite services provider in the world. It owns a fleet of 13 satellites, has one other satellite under construction, and operates 13 additional satellites for other entities.
Telesat's Anik F2 carries a 'Spot Beam' KA band payload for satellite Internet access for users in the United States (Wildblue) and tens of thousands of users in Canada (Xplornet). The KA band system uses 'Spot Beams' to manage bandwidth concerns, linking to multiple satellite ground stations connected to the Internet.
Skynet’s customers included HBO, Disney, Cable & Wireless, Singapore Telecom, Connexion by Boeing, Global Crossing, BT North America, Globecomm Systems, UPC and China Central Television. These are now Telesat customers.
Skynet’s fleet consists of Telstars-11N, -12, -14R(Estrela do Sul 2), and -18. In 2003, Skynet sold its North American satellite fleet (Telstars 5 through 8 and 13) to Intelsat; they were renamed Intelsat Americas 5–8 and 13. This was done to help reduce debt after its parent, Loral Space & Communications, filed for Chapter 11 bankruptcy on July 15, 2003. As part of the agreement, Skynet was precluded from competing in the North American market until March 18, 2006. In June 2007, Loral Space & Communications made an unsuccessful bid to acquire Intelsat. 
On November 17, 2010: Telesat Holdings Inc. hired JPMorgan Chase & Co., Morgan Stanley and Credit Suisse Group AG to start a formal sales process and offer so-called staple financing to interest buyers for $6 billion to $7 billion.
Satellites launched for Telesat 
- Anik A1 - 1972
- Anik A2 - 1973
- Anik A3 - 1975
- Anik B - 1978
- Anik D1 - 1982 - decommissioned 1991
- Anik C3 - 1982
- Anik C2 - 1983 - sold to Paracom S.A. 1993
- Anik D2 - 1984 - sold to GE Americom 1991 and ARABSAT 1993
- Anik C1 - 1985 - sold to Paracom S.A. 1993 and decommissioned 2003
- Anik E2 - 1991
- Anik E1 - 1991
- MSAT - 1996
- Nimiq 1 - 1999
- Anik F1 - 2000
- Nimiq 2 - 2002
- Estrela do Sul 1 (Telstar 14) - 2004
- Anik F2 - 2004
- Anik F1R - 2005
- Anik F3 - 2007
- Telstar 11N - entered service March 31, 2009
- Nimiq 4 - 2008
- Nimiq 5 - 2009
- Telstar 14R (Estrela do Sul 2) - 2011 - North solar array did not fully deploy.
- Nimiq 6 - 2012
Future satellites 
Telesat announced on December 30, 2009 that Nimiq 6 will be built by Space Systems/Loral (SS/L). Bell TV, a Canadian satellite TV provider has agreed to fully lease this new satellite for its lifetime to serve the subscribers across Canada. Nimiq 6 will have a payload of 32 high powered Ku-band transponders. It will utilize the SS/L1300 platform and has a planned 15 year mission life. It will be launched in the middle of 2012 by International Launch Services.
- "WildBlue: How it works". Retrieved 2010-11-10.
- "Pricing Announced for New Xplornet Ka-band Satellite Service" (Press release). Xplornet. 2005-04-19. Retrieved 2010-11-10.
- "Loral and PSP Investments agree to acquire Telesat Canada" (Press release). Loral Space & Communications. 2006-12-18. Retrieved 2006-12-12.
- Telesat said to Seek Buyers, Sale May Bring Up to $7 Billion http://www.businessweek.com/news/2010-11-20/telesat-said-to-seek-buyers-sale-may-bring-up-to-7-billion.html
- "ILS Wins Nimiq 6 Launch" Satellite Today 18 March 2010