Satellite tournaments are lower buyin qualifiers for a larger, more prestigious tournament. These type of tournaments are very popular for the large live tournaments such as the World Series of Poker.
We see some amazing return on investments for buyers who grab shares in satellite tournaments as they often purchase very cheap shares that get them a percentage in the bigger tournament.
For example, here is a link to a ChipMeUp satellite event where buyers turned a very cheap share into an amazing return:
Events that are 'Satellite' tournaments will show a purple icon next to the listing.