TerreStar Finally Crashes Into Bankruptcy
Oct 19, 2010, 4:49 PM by Philip Berne
TerreStar Networks Inc. today finally filed for Chapter 11 bankruptcy protection after speculation about its financial trouble. The mobile satellite network operator has more than $1 billion in outstanding liabilities. The protection filing affects TerreStar Network, but not its parent company, TerreStar Corp. During the proceedings, TerreStar will get a boost from EchoStar, which will provide $75 million in financing. TerreStar launched its first satellite in 2009, and has been working on a second satellite.
Garmin inReach Brings Satellite Messaging to Your Phone
Garmin this week announced its inReach series of satellite communicators. These standalone handheld devices can also be paired with any Android, iOS or Windows 10 smartphone to provide satellite-based text messaging and GPS mapping on your phone even where there is no cellular coverage.
T-Mobile and Dish Discussing Possible Merger
T-Mobile and Dish Networks are negotiating a potential merger between the two companies, reports the Wall Street Journal. The companies have agreed to some of the broad strokes of combining, but not the details.
Google Sharpens Imagery In Maps and Earth
Google today said it has updated the satellite images in Google Maps and Google Earth with much higher-resolution pictures. The company put to use imagery captured by the Landsat 8 satellite, which launched in 2013, to improve the clarity, color, and resolution.
Sharp-Foxconn Deal Imperiled by Hidden Liabilities
Foxconn was on the verge of buying troubled Sharp when the deal met a roadblock at the last minute. Sharp disclosed more than $3.1 billion in liabilities (debt, tax claims, and intellectual property damages) that threw the negotiations into disarray, according to sources cited by the Wall Street Journal.
AT&T to Buy Time Warner for $85.4 Billion
AT&T has agreed to purchase Time Warner for $85.4 billion in a stock-and-cash deal that will merge AT&T's delivery networks with Time Warner's vast catalog of content. AT&T believes the combined companies will be able to save $1 billion per year once fully merged.