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All the gas stations in Attica, Greece in your iPhone!How many times have you found yourself in your car with your gas tank almost empty and you...
Globalstar introduced its new GSP-1700 mobile satellite telephone that is roughly half the weight and size of its previous satellite phones.
A court awards cellular pioneer Craig McCaw's ICO Global Communications a majority stake in the bankrupt U.S. satellite phone provider--as long as it invests $55 million.
The provider of satellite phone service says a U.S. bankruptcy court has approved a financing deal meant to keep it afloat while it seeks new investors.
An FCC ruling is both good and bad for the bankrupt satellite phone company. It forces cellular carriers to open networks to satellite firms but leads to a scrapped funding deal.
The satellite phone company reaches a deal to erase $2 billion in debt, a final step before it emerges from bankruptcy protection.
Satellite telephone company Globalstar Telecommunications plans to file for bankruptcy by the end of the year as part of its restructuring, the company said. Globalstar, which stopped making debt payments to its creditors earlier this year, is facing $3.3 billion in debt. According to terms of a deal now in discussions, Globalstar would file for bankruptcy, then creditors and Loral Space & Communications and Qualcomm, the two companies that originally formed Globalstar in 1991, would own the new entity. Qualcomm would then take over the operations.
Satellite-telephone operator Globalstar Telecommunication's efforts to conserve cash produces a ripple effect for companies such as Qualcomm and Loral.
The U.S. division of Globalstar Telecommunications, a satellite-based wireless telephone operator, is offering customers a way to send each other short text messages. For a limited time, Globalstar customers will be able to send 19-character text messages free of charge, the company announced Monday. To send a message, customers should visit the Globalstar Web site. Once at the site, customers can enter a 10-digit satellite phone number of the person to get the message, followed by any combination of numbers, letter or symbols.
The satellite-based mobile phone company says it may seek bankruptcy protection if it cannot raise more cash or agree to a restructuring plan with creditors.