Film company boss and satellite (6)
I believe the answer is:
studio
'film company' is the definition.
(as in a film studio)
'boss and satellite' is the wordplay.
'boss' becomes 'stud' (both can mean a metal decoration).
'and' means one lot of letters go next to another.
'satellite' becomes 'Io' (Io is a moon of Jupiter).
'stud'+'io'='STUDIO'
(Other definitions for studio that I've seen before include "Film production company" , "Apartment with one main room" , "Workroom for 27 down" , "Film company - artist's atelier" , "Artist's place of work" .)