The above video shows a large satellite that has recently gone out-of-control and is breaking into many pieces as it orbits. The satellite operator SES said that they were able to reestablish contact with the satellite in the following statement issued:

In the early hours of 1st July, the SES Satellite Control reestablished contact to AMC-9. SES and the satellite manufacturer Thales are working around the clock to evaluate the status and define the next steps.

Tracking information received on 29 June had suggested that at least two separate objects were located in the vicinity of AMC-9. Their source has still to be determined. The new piece of information was included by Thales and SES in their investigations.

All relevant operators and agencies are being kept informed and will receive regular updates from SES. The current assessment is that there is no risk of a collision with other active satellites. AMC-9 and its status continue to being tracked by SES and agencies, including the Joint Space Operations Centre (JSpOC) and ExoAnalytic, a private firm and tracking service provider.

Since the incident on 17 June 2017, AMC-9 has been slowly moving westwards with its payload disabled and not causing interference. A majority of traffic has been transferred to other SES satellites and SES is working on a long-term plan to minimize disruption to customers.

Source

Though SES says there is no risk of impact with other space debris, there is rightful concern that this could possibly start a chain-reaction of space debris collisions.

At the very least, it'll be a spectacular show when the pieces reenter the Earth's atmosphere!!

Happy 4th of July, Steem!!