Worldspace Saga
Somebody said, 'let's fight to save Worldspace radio'
As that legendary rock group Queen sang 'Radi-ohh, someone still loves yee-ou!'
Worldspace India's 300 or so staff members have signed a petition to India’s Prime Minister Manmohan Singh. The letter states that Reliance’s ‘Big TV’ and Tata Sky’s DTH operations were both involved in discussions to acquire Worldspace India.
As that legendary rock group Queen sang 'Radi-ohh, someone still loves yee-ou!'
Worldspace India's 300 or so staff members have signed a petition to India’s Prime Minister Manmohan Singh. The letter states that Reliance’s ‘Big TV’ and Tata Sky’s DTH operations were both involved in discussions to acquire Worldspace India.
The letter argues that Worldspace’s incoming buyer, Liberty Media, has decided to close its Indian pay-radio operation in order “to wipe off the current liabilities with subsidiary, subscribers, employees, vendors and business associates.” The staffers say that the whole process is being played out in a hush-hush manner to try and leep Indian investors off the deal. 
“Despite India being a primary market, the sale of the asset is being concluded without publicising the same in India and ruling out any possibility of a domestic investor in India participating in the sale,” states the letter to the Prime Minister.
The letter to the Prime Minister continues: “In summary, Liberty Media and Mr Robert Schmitz, the current chief restructuring officer of Worldspace Inc, want to escape from liabilities in India while retaining the assets for encashing the India business opportunity in India at a later date."
Rapid TV News reports that the initial feedback from the ministries involved suggests that the government will in all probability give a timeline within which this has to be solved or else risk facing a ban.
The note says Liberty Media and Worldspace have cleared their liabilities in all other countries of operation. “Certain loopholes in our system are being misused to escape from responsibilities of orderly closure of the business.”
The employees have requested the government intervene in the matter to ensure that the radio service provider exits only after following the due process applicable to any other media or telecom services in India. They have also asked for sale of satellite assets to be publicised and restriction of re-entry of Worldspace/Liberty in India in a new guise until all issues relating to its liabilities and protection of stakeholders are resolved.
Based in the Washington, DC metropolitan area, Worldspace is the world's only global media and entertainment company positioned to offer a satellite radio experience to consumers in more than 130 countries with five billion people, driving 300 million cars. Worldspace award-winning programming provides subscribers with a combination of news, sports, music, talk and entertainment, as well as brand-name content and educational programming. Leading brands from around the globe found on Worldspace include the BBC, Virgin Radio UK, and RFI.
Worldspace satellites cover two-thirds of the earth and enable the Company to offer a wide range of innovative services for enterprises and governments globally, including distance learning, alert delivery, data delivery, and disaster readiness and response systems. Worldspace is a pioneer of satellite-based digital radio services and was instrumental in the early development of the technology infrastructure used today by XM Satellite Radio.
“Despite India being a primary market, the sale of the asset is being concluded without publicising the same in India and ruling out any possibility of a domestic investor in India participating in the sale,” states the letter to the Prime Minister.
The letter to the Prime Minister continues: “In summary, Liberty Media and Mr Robert Schmitz, the current chief restructuring officer of Worldspace Inc, want to escape from liabilities in India while retaining the assets for encashing the India business opportunity in India at a later date."
Rapid TV News reports that the initial feedback from the ministries involved suggests that the government will in all probability give a timeline within which this has to be solved or else risk facing a ban.
The note says Liberty Media and Worldspace have cleared their liabilities in all other countries of operation. “Certain loopholes in our system are being misused to escape from responsibilities of orderly closure of the business.”
The employees have requested the government intervene in the matter to ensure that the radio service provider exits only after following the due process applicable to any other media or telecom services in India. They have also asked for sale of satellite assets to be publicised and restriction of re-entry of Worldspace/Liberty in India in a new guise until all issues relating to its liabilities and protection of stakeholders are resolved.
Based in the Washington, DC metropolitan area, Worldspace is the world's only global media and entertainment company positioned to offer a satellite radio experience to consumers in more than 130 countries with five billion people, driving 300 million cars. Worldspace award-winning programming provides subscribers with a combination of news, sports, music, talk and entertainment, as well as brand-name content and educational programming. Leading brands from around the globe found on Worldspace include the BBC, Virgin Radio UK, and RFI.
Worldspace satellites cover two-thirds of the earth and enable the Company to offer a wide range of innovative services for enterprises and governments globally, including distance learning, alert delivery, data delivery, and disaster readiness and response systems. Worldspace is a pioneer of satellite-based digital radio services and was instrumental in the early development of the technology infrastructure used today by XM Satellite Radio.
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