Document:

<PAGE>

                                                        Exhibit 10.38.2

                              AMENDMENT No. 2 TO

                             FIXED PRICE CONTRACT

                                    BETWEEN
                                      A)
                             PANAMSAT CORPORATION

                                      AND

                    HUGHES SPACE AND COMMUNICATIONS COMPANY

                                      FOR

                             PAS 1R & GIIIC HS702

                SPACECRAFT, RELATED SERVICES AND DOCUMENTATION

                            CONTRACT No. 97-HCG-001
<PAGE>

        AMENDMENT No. 2 TO FIXED PRICE CONTRACT FOR PAS 1R & GIIIC HS702
                 SPACECRAFT, RELATED SERVICES AND DOCUMENTATION

This AMENDMENT No. 2 (the "Amendment"), entered into as of 6 November 2000, by
                                                           -----------
and between PANAMSAT CORPORATION (herein called "Buyer"), a Delaware corporation
having a principal place of business at One Pickwick Plaza, Greenwich,
Connecticut 06830, and HUGHES SPACE AND COMMUNICATIONS COMPANY (herein called
"Contractor"), a Delaware corporation having a principal place of business at
909 North Sepulveda Boulevard, El Segundo, California 90245, amends that certain
Fixed Price Contract for PAS 1R & GIIIC HS702 Spacecraft, Related Services and
Documentation with an effective date of August 15, 1997 (Contract No. 97-HCG-
001) (the "Agreement").

                                    RECITALS

     WHEREAS, Buyer and Contractor are party to the Agreement, providing for
Buyer to purchase and Contractor to provide the PAS 1R & GIIIC Spacecraft,
Documentation, and Related Services as therein specified;
     WHEREAS, the Parties now desire to amend the Agreement as a result of
negotiations which were held on 3/6/00,
     WHEREAS, the Parties have agreed to a price of [*****] for GIIIC
Configuration Change No. 2 deltas for major payload changes, which includes a
value of  [*****] for settlement of all fungible material for recurring and
nonrecurring changes prior to this agreement;
     WHEREAS, Contractor has agreed to waive the grace period for the GIIIC
liquidated damages (Reference Paragraph 38.2)
     WHEREAS the Contractor has agreed to provide Test Fixture to PanAmSat for
its use upon receipt of appropriate shipping information from PanAmSat;
     WHEREAS, the parties have agreed to a price of [*****] for GIIIC
Configuration change deltas for battery and payload changes,
     WHEREAS the Parties have agreed to a price of [*****] for GIIIC Ground
Changes;
     WHEREAS, Buyer has selected Sea Launch as the launch vehicle and the
Parties have agreed to a contract price reduction of [*****] in accordance with
Paragraph 5.3;
     WHEREAS the Parties have agreed to revisions to the PAS1R and G3C SOW
Changes;
     WHEREAS the Parties have agreed to revisions to the GIIIC Ground SOW
changes in Section 8.2,
     WHEREAS the Parties have agreed to revisions to the GIIIC and PAS1R
Technical Specification;
     WHEREAS the Parties have agreed that the Contractor will perform the
efforts described in the Uplink Polarization proposal for the GIIIC Program with
a contract price increase of [*****];
<PAGE>

     WHEREAS the Parties have agreed to an increase to the GIIIC delivery
schedule for a total of 8 days and a price increase of [*****] due to the South
American  LHCP & RHCP EIRP; the Ku-IMUX Filter design and the C-band
Interconnnect Changes,

                                   AGREEMENT

     NOW, THEREFORE, the Parties hereby agree to amend and restate the Agreement
as follows:

1. ARTICLE 1.  EXHIBITS AND INCORPORATIONS is hereby amended as follows:
   ---------------------------------------
     (a) Exhibit A shall reflect the Spacecraft Statement of Work for PAS 1R and
         G3C;
     (b) Exhibit A1 shall reflect the changes in the Ground SOW for G3C

(b)  EXHIBIT B.  The PAS 1R Spacecraft Specification, Exhibit B, dated March
     ----------
     1998, Rev. 04/06/98, attached to this amendment is hereby amended and
                                                        ------------------
     restated in its entirety with the PANAMSAT specification dated 12/9/99;
     -----------------------------------------------------------------------
     Exhibit B1 for the G3C Specification is hereby amended and restated in its
     --------------------------------------------------------------------------
     entirety with the PANAMSAT specification dated 8/25/99.
     ------------------------------------------------------

     Page two (2) of the Agreement is replaced by page two (2) "Amendment No.
     2."

2. ARTICLE 4.  DELIVERABLES AND SCHEDULE is hereby amended as follows:
   -------------------------------------

   Section 4.1, Item 1B., is hereby amended by adding 8 days to the GIIIC
   -----------
   Shipment Date and changing the delivery point from Balkonur to the Sea Launch
   Facility in Long Beach.  The Shipment Date is changed from "April 1, 2001" to
   "April 9, 2001."

   Page seven (7) of the Agreement is replaced by page seven (7) "Amendment
   No. 2."

3. ARTICLE 5.  PRICE is hereby amended as follows:
   -----------------

   Section 5.1(b) for GIIIC is hereby amended by replacing [*****].
   ------------------------

   Page twelve (12) of the Agreement is replaced by page twelve (12) "Amendment
   No. 2."

4. ARTICLE 6.  PAYMENTS is hereby amended as follows:
   --------------------

   Section 6.2, Table 6.2.2, Galaxy IIIC - Progress Payment Plan, is hereby
   -----------
   amended and restated as attached, page 15, Table 6.2.2 Galaxy IIIC - Progress
   Payment Plan.

5. ARTICLE 38, LIQUIDATED DAMAGES is hereby amended as follows:
   Paragraph 38.2.1 is deleted and Paragraph 38.2.2 shall be re-numbered as
   38.2.1 and shall reflect the deletion of the thirty day  grace period for the
   GIIIC Program;
<PAGE>

6. Each capitalized term used but not defined in this Amendment shall have the
   same meaning described to such term in the Agreement.  Except as amended by
   this Amendment, the Agreement shall continue in full force and effect.

7. For clarity and continuity purposes, replacement pages of the Contract are
   attached hereto, and are designated with "Amendment No. 2" in the lower left
   hand corner.  There are no other Amendments to the Contract except as
   expressly set forth herein.

IN WITNESS WHEREOF, the Parties have executed this Amendment No. 2 to the PAS 1R
& Galaxy IIIC Agreement.

HUGHES SPACE AND                          PANAMSAT CORPORATION
COMMUNICATIONS COMPANY

By:                                       By:
   ----------------------------              ----------------------------

   ----------------------------              ----------------------------
            (printed)                                 (printed)

Title:                                    Title:
      -------------------------                 -------------------------

Date:                                     Date:
     --------------------------                --------------------------
<PAGE>

ARTICLE 1.  EXHIBITS AND INCORPORATIONS

The following documents are hereby incorporated and made a part of this Contract
with the same force and effect as though set forth herein:

1.1  Exhibit A - PAS 1R & Galaxy IIIC Statement of Work - dated August 1997
     Exhibit A1 will reflect the differences in the Ground SOW for G3C and is
     dated June 2000.

1.2  Exhibit B - PAS 1R & PAS 9 Spacecraft Specification - September 1997 for
     PAS 1R and October 1997 for PAS 9.  Will be replaced by Exhibit B dated
                                         -----------------------------------
     December 1999 for PAS 1R (Revision A).  The current Galaxy 3C Spacecraft
     ------------------------------------------------------------------------
     Specification is dated 8/99.
     ----------------------------

1.3  Exhibit C - PAS 1R & Galaxy IIIC Spacecraft Integration Test Plan - August
     1997.

1.4  Exhibit D - PAS 1R & Galaxy IIIC Product Assurance Plan - dated August 1997

1.5  Exhibit E - Certain Documentation - dated August 1997.

1.6  Exhibit F - Maximum Termination Liability - dated October 1997.

1.7  Exhibit G - Optional Spacecraft Satellite Payment Plan - dated October 1997

1.8  Exhibit H - Replacement Spacecraft Payment Plan - dated October 1997.

1.9  Exhibit I - List of Agreed Exhibit Changes - dated October 1997

                                               Buyer _______  Contractor _______
<PAGE>

ARTICLE 4.  DELIVERABLES AND SCHEDULE

     4.1  The following deliverables to be furnished under this Contract shall
          be furnished at the designated location(s) on or before the dates
          specified below:

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------
                                        Date of Shipment           Location of Shipment
                                            Delivery                   Delivery or
          Deliverables                   or Performance                Performance
---------------------------------------------------------------------------------------------
<S>                                     <C>                       <C>
1A. One PAS 1R Spacecraft                May 22, 1999/1/          . Shipped from Contractor's
    ("PAS 1R)                            ---------------            facility.
                                        ("Shipment Date")         . Delivery Site at Ariane
                                                                    facility, Kourou, French
                                                                    Guyana (subject to change
                                                                    pursuant to Paragraph
                                                                    4.2.)
---------------------------------------------------------------------------------------------
1B. One Galaxy IIIC Spacecraft            April 9, 2001           . Shipped from Contractor's
    ("Galaxy IIIC)                      ("Shipment Date")           facility.
                                                                  . Delivery Site at Sea
                                                                                  ------
                                                                    Launch Facility, Long
                                                                    ---------------------
                                                                    Beach, CA (subject to
                                                                    ---------
                                                                    change to Paragraph 4.2.)

---------------------------------------------------------------------------------------------
2A. Launch Support, Mission             In Accordance with        . Performance Site to be
    Operations and In-Orbit Testing     Exhibit A                   determined pursuant to
    for PAS 1R ("Related Services")                                 Paragraph 4.2.
                                                                  . Fillmore, California
                                                                  . Castle Rock, Colorado
                                                                  . El Segundo, California
---------------------------------------------------------------------------------------------
</TABLE>

                                               Buyer _______  Contractor _______
<PAGE>

ARTICLE 5.  PRICE

     5.1  The total  price (the  "Contract  Price")  for  Contractor  to provide
          Spacecraft, Documentation and Related Services shall be as follows:

          For PAS 1R, [*****]

          (b)   For Galaxy IIIC, [*****]

     5.2  Buyer shall pay Contractor the Contract Price stated in Paragraph 5.1
          above in accordance with Article 6, Paragraph 6.2 of this Contract.

     5.3  The Contract Price for each Spacecraft identified in Paragraph 5.1 are
          contingent upon the utilization of the launch vehicles initially
          designated for such Spacecraft in Paragraph 4.2.1.  If Buyer changes
          the designated launch vehicle for the Spacecraft in accordance with
          Paragraph 4.2.1 (as opposed to Article 29), the Contract Price for the
          applicable Spacecraft shall be adjusted in accordance with the
          following table:

                                  Table 5.3.1
                                  -----------

                          Adjustment to Contract Price
                          ----------------------------

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------
                Launch Vehicle                          PAS 1R             Galaxy IIIC
-------------------------------------------------------------------------------------------
<S>                                                    <C>                   <C>
                  Sea Launch                           [*****]               [*****]
-------------------------------------------------------------------------------------------
                    Ariane                             [*****]               [*****]
-------------------------------------------------------------------------------------------
                    Proton                             [*****]               [*****]
-------------------------------------------------------------------------------------------
</TABLE>
**Amendment 2:  Buyer has chosen Sea Launch

                                               Buyer _______  Contractor _______
<PAGE>

                                  Table 6.2.2
                      Galaxy IIIC - Progress Payment Plan
                      -----------------------------------

<TABLE>
<S>                                             <C>                <C>
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
[*****]                                         [*****]            [*****]
--------------------------------------------------------------------------------------
</TABLE>
/1/ [*****]
/2/ [*****]

              38.1.6 In the event of any delay of a partial  month,  the amounts
                     specified in Paragraphs 38.1.2,  38.1.3,  38.1.4 and 38.1.5
                     shall be pro rated on a  day-for-day  manner based upon the
                     number of days in such month.

       38.2   In the event  that the  shipment  of PAS 9 is  delayed  due to the
              fault  of  Contractor  (and/or   Contractor's   subcontractors  or
              suppliers)  and not  shipped on or before the PAS 9 Shipment  Date
              identified under Article 4 (as such date may be adjusted by mutual
              agreement  of  the  Parties),   Contractor   shall  pay  to  Buyer
              liquidated damages as follows:

              [*****]
              38.2.1 For each [*****] of delay, Contractor shall pay to [*****];
                     and

                                               Buyer _______  Contractor _______
<PAGE>

              38.2.2 In the event of any delay of a  partial  one-month  period,
                     the amounts  specified  in Paragraph  [*****]  shall be pro
                     rated on a day-for-day manner based upon the number of days
                     in such one-month period.

       38.3   In addition,  in the event that  Contractor does not begin [*****]
              on or before the date (the "Test  Date") that is [*****]  prior to
              the  then-existing  Shipment Date,  Contractor  shall pay to Buyer
              liquidated damages in the amount of [*****]

                                               Buyer _______  Contractor _______<PAGE>

                                                                 Exhibit 10.39.2

                              AMENDMENT NO. 2 TO
                  GALAXY IIIR TRANSPONDER SUBLEASE AGREEMENT

     This AMENDMENT NO. 2 TO GALAXY IIIR TRANSPONDER SUBLEASE AGREEMENT (the
"Amendment") is made and entered into as of December 15, 2000 (the "Effective
Date") by and between PanAmSat Corporation, a Delaware corporation ("PanAmSat"),
and California Broadcast Center, LLC, a Delaware limited liability company
("Lessee"), and amends that certain Galaxy IIIR Transponder Sublease Agreement
dated as of April 21, 1997, as amended by that certain Amendment No. 1 thereto
dated as of July 28, 1999 (as so amended, the "Agreement") between Lessee and
PanAmSat (as assignee of Hughes Communications Galaxy, Inc.).

                                    RECITALS

     WHEREAS, pursuant to the Agreement, Lessee has certain rights to lease Ku-
band transponders on the satellite known as Galaxy IIIR in the event of a
failure of one or more Ku-band transponders currently eased by Lessee on the
satellite known as Galaxy VIII(i);

     WHEREAS, PanAmSat is currently constructing and intends to launch an HS-702
model satellite to be known as Galaxy IIIC, and intends to construct and launch
an HS-601HP model satellite to be known as Galaxy VIII(i)R; and

     WHEREAS, PanAmSat and Lessee are party to that certain Amended and Restated
Galaxy VIII(i) Transponder Lease Agreement (the "Galaxy VIII(i) Lease
Agreement") and that certain Galaxy IIIC Transponder Lease Agreement (the
"Galaxy IIIC Lease Agreement"), each dated as of June 30, 2000, for the lease of
transponder capacity on Galaxy VIII(i) and Galaxy IIIC, respectively;

     WHEREAS, concurrently with the execution of (i) amendments to the Galaxy
VIII(i) Lease Agreement and the Galaxy IIIC Lease Agreement and (ii) a Galaxy
VIII(i)R Transponder Lease Agreement (the "Galaxy VIII(i)R Lease Agreement")
pursuant to which Lessee will lease Ku-band transponders on Galaxy VIII(i)R,
PanAmSat and Lessee desire to amend the Agreement as set forth below.

     NOW, THEREFORE, in consideration of the above and other good and valuable
consideration acknowledged by the parties to have been given, the parties
mutually agree to amend the Agreement as follows:

I.   Upon and after the "Galaxy IIIC Lease Commencement Date" (as defined in the
     Galaxy IIIC Lease Agreement):

               (a) [***]
               (b) [***]

                                      -1-

[***] Filed separately with the Commission pursuant to a request for
confidential treatment.
<PAGE>

II.       Upon the "Galaxy VIII(i)R Lease Commencement Date" (as defined in the
          Galaxy VIII(i)R Lease Agreement), this Agreement shall terminate and
          its terms and conditions shall be of no further force and effect,
          except for the provisions of Sections 12.04 and 20.05 and Article 16,
          each of which shall survive such termination.

III.      Upon termination of the Agreement in accordance with Paragraph II
          above, all Deposits previously paid by Lessee pursuant to the
          Agreement and not yet applied by PanAmSat pursuant to Section 3.04 of
          the Agreement to any payment due from Lessee shall be, at the written
          election of Lessee, either (i) refunded to Lessee by PanAmSat or (ii)
          applied by PanAmSat to other payments owed by Lessee to PanAmSat
          pursuant to the Galaxy IIIC Lease Agreement or the Galaxy VIII(i)R
          Lease Agreement.

IV.       Each capitalized term used but not defined herein shall have the
          meaning ascribed to such term in the Agreement. In the event of any
          inconsistency between any term or condition of this Amendment and any
          term or condition of the Agreement, the applicable term or condition
          of this Amendment shall govern. Except as modified by this Amendment,
          the Agreement shall continue in full force and effect in accordance
          with its terms and conditions.

          IN WITNESS WHEREOF, each of the parties hereto has duly executed and
delivered this Amendment as of the Effective Date above.

                             PANAMSAT CORPORATION

                             By: ___________________________________________
                             Name:
                             Title:

                             By: ___________________________________________
                             Name:
                             Title:

                             CALIFORNIA BROADCAST CENTER, LLC

                             By: DTVI One, Inc., its Managing Member

                             By: ___________________________________________
                             Name:

                                      -2-

[***] Filed separately with the Commission pursuant to a request for
confidential treatment.
<PAGE>

                             Title:

                                      -3-

[***] Filed separately with the Commission pursuant to a request for
confidential treatment.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}]]