Intel Corporation and Luxembourg-based Societe Europeenne des Satellites (SES) announced Wednesday they have formed a venture to deliver multimedia content directly to personal computers in Europe via satellite. The new company will be called European Satellite Mutimedia Services S.A. (ESM) and has initial funding of about $15m, with SES holding a majority stake. ESM’s service, due to begin later this year, will be able to transmit data roughly 600 times faster than today’s fastest ISDN lines. The company plans to first develop services aimed at businesses that already employ satellites in corporate networks, but with an add-in card costing about $200, Europe’s estimated 26 million homes with satellite dishes can join in the fun. Intel says it expects to open similar satellite services in Asia and North America within the several years but has no plans in the works.