Liberty Media, WorldSpace Talks Terminated
March 17, 2010 at 4:42 AM (PT)
Satellite radio company WORLDSPACE may have hit the end of the road, reports PAIDCONTENT.ORG. WORLDSPACE issued a terse statement saying that its "strategic transaction negotiations" with creditor LIBERTY MEDIA had been terminated by that company.
WORLDSPACE raised $150 million in an IPO in JULY 2005, but filed for bankruptcy protection a year ago.
LIBERTY SATELLITE RADIO, a unit of JOHN MALONE's LIBERTY MEDIA CORP, had been expected to seek a strategic alliance between WORLDSPACE and SIRIUS XM SATELLITE RADIO, in which it owns a significant stake.