WorldSpace Files For Bankruptcy

mri_fan · Post by **mri_fan** » 25 Oct 2008, 22:21

Just an update:

The US Bankruptcy Court in Delaware has approved up to $2 million in interim financing for Silver Spring-based WorldSpace so it can make its payroll to critical employees and begin a process to sell the international satellite radio company or its assets. WorldSpace recently filed for Chapter 11 bankruptcy protection. The court appointed the Bank Street Group as the firm's financial advisor in support of either a sale or a restructuring process. The holders of the company's debt have agreed to provide financing of up to $13 million for a 90-day period in order to facilitate a sale, pay employees, and preserve the core assets.....

ssvas1966 · Post by **ssvas1966** » 01 Nov 2008, 17:24

If this news is correct, it is really unfortunate. I really love to listen to the digital / crystal clear / advt free / good music from World Space. I really wish that more and more people develop the habbit of listening and spend less time in viewing TV / gossiping. This is really soul filling music for one and all.