Cyber Monday Deals Still Available Deals Under $25 Deals Under $50 Giving Tuesday Tech Fails of 2022 Best Live TV Streaming Service WHO Renames Monkeypox Change These Alexa Settings
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

Iridium cries uncle in last chapter of satellite debacle

Barring any last-minute bidders, the company will start letting its satellites go down in flames at midnight.

 

  latest developments 

The satellite-based mobile phone company, which filed for bankruptcy protection and has been unable to attract last-minute bidders, will start letting its satellites go down in flames at midnight.

"It's toast."

- Marc Crossman, J.P. Morgan analyst

 


Iridium asks court to let satellites burn
The company tells a bankruptcy court it can't find a qualified buyer for its satellite-based mobile phone service and wants to shut down by midnight.

Previous coverage
Last-minute bidders may save Iridium
Several bidders submit offers for Iridium in a last-ditch effort by the satellite-based mobile phone company to save itself.

Iridium satellites may go down in flames
The company is on the verge of a spectacular business flameout--literally set to burn up billions of dollars' worth of Earth-orbiting assets.

Iridium customers told service may end
Motorola notifies customers of the satellite telephone system it bankrolled that service would end March 17 unless a buyer comes forward.

McCaw won't invest in satellite phone firm
update The cellular phone industry magnate and billionaire will not invest in Iridium, possibly dashing the company's hopes of a rescue.

McCaw offers to invest $75 million in struggling Iridium
The beleaguered company could receive nearly $75 million in interim funding from a group of investors led by cellular pioneer Craig McCaw.