Look for WorldSpace to try to get into China next.
That’s what a little birdie in the know told me recently. This engineer tells me the satcaster, which was recently purchased out of bankruptcy by CEO Noah Samara, did not succeed in similar bankruptcy proceedings in France.
French courts would not accept the restructuring plans, so the assets are being liquidated — putting a further kink in the company’s plans to launch a service in Europe and make money.
France wasn’t its only European target. In 2007, the satcaster announced it signed a deal with Fiat and hoped to launch some 40 to 50 channels of satellite digital radio service in Italy in 2008. That didn’t happen.
The company is still in India and Africa but I’m not sure how much money those operations are generating. That leaves China as a big potential target for Samara, so goes this theory, though the company obviously faces plenty of continuing challenges all around. Look for him to try to raise capital to get into that country.