TAMPA, Fla. — Avanti Communications is moving to close a chapter on the debt-fueled geostationary expansion that once defined the British satellite operator, with plans to sell the youngest payload in its aging broadband fleet.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...