Worldspace Satellite Radio to offer Internet Radio subscriptions?

Discussion in 'Podcasts' started by hexagram, Oct 11, 2008.

  1. hexagram

    hexagram Medicinal & Recreational.

    At the bottom of the page, there is a link that says Internet Radio and there is a sign-in prompt on the front page... Sounds like they might be reaching out to the North American audience.
  2. SISO

    SISO Member

    Interesting, but here's a question..when did they ad the "1" in front of their name?
  3. Brian

    Brian Banned

    sometime this past summer. don't really know when or why, but it just happened.
  4. hexagram

    hexagram Medicinal & Recreational.

    It looks like Worldspace has been shut down for good.

    For starters, Worldspace has been delisted from NASDAQ, it is now currently on Pink Sheets "WRSPQ.PK" and it is as of the time of this writing at 0.07 (at 29.86% loss so far for the day) with a measly $3M market cap.

    Lastly, has been shut down. When you try to go there, you get a 403 error.

    R.I.P. Worldspace Satellite Radio

    Oh yeah, and they have already filed for Chapter 11 bankruptcy.
    Last edited: Oct 30, 2008
  5. secrecyguy

    secrecyguy Member

    I was able to access their website. I don't think they will go out of business that quickly since they just recently file for bankruptcy.

    I have a feeling this will tell us what the future of satellite radio will be in the U.S. I am keeping an eye on this company.
  6. hexagram

    hexagram Medicinal & Recreational.

    Their pink sheets stock plummeted by 56.25% today. The stock is now worth a measly 0.03 with a 1.5 M market cap. I just get the feeling that the company will be shut down (or bought out if anyone is willing to take the risk) by the end of the year. Hopefully it's the latter.

    You also mentioned how this would affect SIRIUS. Well, they closed at 0.34 today with a 1.07 B market cap. It doesn't look pretty, but it seems to be remaining steady in the .30's-.40's for the past two weeks. But I would only half-agree with your statement. It's a good forecast of what could happen to SIRIUS XM if they don't get their shit together, but SIRIUS XM still has plenty of time to fix their problems before facing the same fate as WorldSpace (that is, if they don't get delisted by NASDAQ. But they at least have the minimum $50 M market cap and then some).

    ... and you're right, the WorldSpace site wasn't taken down. Apparently the website has been experiencing an abnormal rush of traffic with the announcement of the Chapter 11 bankruptcy announcement and the delisting from NASDAQ and it has caused the site to lock up for periods of time.
    Last edited: Oct 31, 2008

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