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Wednesday, March 17, 2010

Liberty Media ends negotiations with WorldSpace, putting WorldSpace's future in limbo

Liberty Media, through a subsidiary, had bought up the debt of bankrupt WorldSpace last year. Negotiations had proceeding between the two satellite owners, but on Tuesday, they broke down. Radio-Info previously reported that Liberty, which owns a 40% stake in Sirius XM, might be interested in WorldSpace’s satellite radio operations in Asia and Africa to complement Sirius XM. Now that Liberty Media has ended negotiations, WorldSpace says it may de-commission some satellites and explore alternatives as it remains in Chapter 11 bankruptcy protection.

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