TerreStar Files for Chapter 11 Protection
Following up on a previous report, satellite telecom provider TerreStar has filed for Chapter 11 bankruptcy protection, with the Blackstone Group serving as the legal mediator providing assistance to restructure the company and creditor EchoStar providing $75 million in financing to continue operations, as the company launched its hybrid satellite/GSM smart device in the Genus […]
Report: TerreStar Preparing for Chapter 11 Bankruptcy Protection Filing
Satellite telecommunications provider TerreStar is preparing a Chapter 11 bankruptcy filing after its more than $1 billion debt load has rendered the company near insolvent in its current form with just $15 million in cash on hand and $42.5 million remaining from a $100 million credit line provided by the Harbinger hedge fund and its […]
AT&T Launches TerreStar Genus Device and Service
AT&T has launched the TerreStar satellite phone service and Genus device for its business and government customers needing access to mobile service outside of conventional coverage in the US, Puerto Rico and the Virgin Islands. Pricing for service is set at $25 per month plus 65 cents per minute of voice service, 40 cents per […]
FCC Approves TerreStar Genus Hybrid Satellite-Cellular Windows Mobile Smartphone
The FCC has approved the TerreStar Genus Windows Mobile 6.5 smart device with a dual-mode satellite transceiver/GSM radio for worldwide roaming via conventional cellular service and additional coverage via the TerreStar satellite network outside of cellular coverage in remote areas of the United States, Puerto Rico, the U.S. Virgin Islands and in territorial coastal waters. […]