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On December 31, the WorldSpace satellite radio broadcast service will go off air for all customers serviced from India. This terse announcement on Christmas Day comes in an e-mail to subscribers from Mr Robert Schmitz, Chief Restructuring Officer, WorldSpace, Inc.
The mail goes on to say that, “This action is an outgrowth of the financial difficulties facing WorldSpace India's parent company, WorldSpace, Inc., which has been under bankruptcy protection since October 2008. The potential buyer of much of WorldSpace's global assets has decided not to buy the WorldSpace assets relating to and supporting WorldSpace's subscription business in India. As a consequence, WorldSpace, Inc. must discontinue its subscriber business in India.”
LINK For World Space.
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The mail goes on to say that, “This action is an outgrowth of the financial difficulties facing WorldSpace India's parent company, WorldSpace, Inc., which has been under bankruptcy protection since October 2008. The potential buyer of much of WorldSpace's global assets has decided not to buy the WorldSpace assets relating to and supporting WorldSpace's subscription business in India. As a consequence, WorldSpace, Inc. must discontinue its subscriber business in India.”
LINK For World Space.
SOURCE