WorldSpace to pull out of India

sakthiman

Regular
Messages
103
Is it all over for Worldspace?


Troubled satellite radio broadcaster Worldspace is seemingly out of cash. Sources within the company say senior staff have already forfeited at least two salary payments, and this coming Tuesday’s payroll will again evidently have problems.


Another source says that CEO Noah Samara last week held an all-staff meeting, telling them: "We just need funding and execution." One source stated that he has been repeating much the same mantra for more than eight years.


Worldspace, for what seems the umpteenth time, is again talking to its bridging debt-holders about rolling over its repayment obligations to them, this time until July 31. The original binding "Mandatory Redemption Date" for the debt was May 31, then June 30, then July 9, all of which were missed. But it is now paying a crippling rate of interest for missing its repayment obligations.


Bit by bit Worldspace’s debt-holders are winning large chunks of Worldspace because of its default in repaying the assorted loan-notes. However, Nasdaq rules limit the amount of debt and warrants that Worldspace can convert into shares to a total of 19.9% of the firm’s issued Class A shares unless approval is given by the company’s shareholders. Hence Worldspace has to call a special meeting to be held no later than August 15 to approve the move.


Is it all over for Worldspace? | Indian Televisionpoint News
 

supersubra

Newbie
Messages
12
It is all because of poor marketing by world space. Marketing team has never targeted outside Mumbai and Bangalore where as really there is a huge potential across India. They dont know whom to target and sell. Further many small city local salesman are not able to explain anything about it.
 


xotiq

Regular
Messages
175
I used Worldspace for a year and then stopped when the renewal charges were so high, sad to know this, but any interruptions for folks who use this service?:huh:
 

supersubra

Newbie
Messages
12
Till date world space is working fine. No interruptions. But in my opinion paying for good music (without ADs) is really worth compared to TV FM etc.
 

OSWAI

Regular
Messages
101
they should reduce the rates and advertise more.anyone will buy if the rates are cheap.
 


xotiq

Regular
Messages
175
I think a little more advertising (especially outside major metros) would do a world of good for Worldspace, and help them garner more customers.
 

shashankre

Regular
Messages
428
I feel Worldspace is really boring. I NEVER listen to it even in my Airtel Digital TV! I find normal FM to be LOT LOT better than Worldspace and FM is free too!
 

slash84

Tech Dude
Messages
460
Seeing your location, i might say its only for people in your city. Because i know many people in bangalore who love FM, but i hate it to the core. The songs played arent that great if you dont listen to Kannada songs, and the RJ's suck bigtime. Worldspace on the other hand has music for any person around the world. But i agree the charges are somewhat on the higher side.
 

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