WRSPQ WorldSpace, Inc. featured news, full reports, and detailed charts
WorldSpace, Inc. (WRSPQ/WRSPQ.PK) Wrap Up:
WorldSpace, Inc., together with its subsidiaries, engages in the design, development, construction, deployment, and financing of a satellite-based radio and data broadcasting service. It offers international, national, and regional radio programming through portable and mobile radio receivers owned by customers. The company broadcasts a total of 90 separate digital channels, delivering music and multilingual news, sports, information, and data. It provides digital audio radio service, an operational satellite-based digital radio system; and consumer audio receivers. The company’s operational system consists of four elements: two geostationary satellites, AfriStar and AsiaStar; the associated...WorldSpace, Inc. (WRSPQ:OTC)
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Key developments for WorldSpace, Inc. (WRSPQ)
WorldSpace, Inc. plans to sell 30% stake in its South African unit to Black Economic Empowerment (BEE) partners. Independent Communications Authority of SA (ICASA) had invited companies with existing broadcasting service licenses or with temporary permits, to apply for a satellite network license by May 21. One of the conditions for the satellite network license is that companies should have black ownership of 30%. Hamza Farooqui, Managing Director of WorldSpace Southern Africa, said that the 30% was achievable and the company was in the process of finding a black partner.
On October 27, 2008, WorldSpace Inc. announced that Grant Thornton LLP, registered independent public accounting firm resigned following the decision of the company's board of directors to file a Chapter 11 bankruptcy petition.
On 11/17/2008, WorldSpace, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
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