Founder's Company Closes On WorldSpace Purchase
June 28, 2010 at 4:25 AM (PT)
YAZMI USA, LLC has closed on the purchase of WORLDSPACE, INC. YAZMI, headed by WORLDSPACE CEO NOAH SAMARA, paid $5,5 million for the troubled international satellite radio company, which had been in Chapter 11 bankruptcy since OCTOBER 2008.
A previous deal that would have sold WORLDSPACE to another SAMARA company, YENURA PTE LTD., was announced in MARCH 2009 and was terminated and failed to close in AUGUST of last year. Talks with LIBERTY MEDIA about a deal earlier this year did not result in an agreement.