WorldSpace files for Bankruptcy

Worldspace, operator of satellite radio services has filed for for Chapter 11 bankruptcy protection ($2.12 Billion in Debt)

The company, which broadcasts its satellite radio services to more than 170,000 paid subscribers in 10 countries throughout Europe, Africa and Asia, sought Chapter 11 protection in the U.S Bankruptcy Court in Wilmington, Del. It listed assets of $307.4 million and liabilities of $2.12 billion. – wsj

In India, Worldspace beams over 45 channels and has over 1.6 lakh customers – over 93 % of its world-wide subscriber base.(source)

Report card (courtesy hindu):

MSN and Worldspace earlier partnered to launch online radio, but the site seems to has gone defunct now.

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