In a story reminiscent of the one we ran on Iridium Satellite LLC in last month’s issue of Pacific Satellite News, satellite radio broadcaster WorldSpace Inc which filed for Chapter 11 bankruptcy protection in October 2008, has won court approval to sell itself to a company controlled by WorldSpace founder, Noah Samara.
In a proposal presently before regulatory authorities, Singapore based Yenura Pte. Ltd will pay US$28 million for most of the assets of Worldspace and its US subsidiaries WorldSpace Systems Corp. and AfriSpace Inc.
Worldspace’s broadcasts are heard across Africa …