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  • Amp'd in death throes, files to sell off assets

    Filed under: Amp'd , MVNOs Maybe it was Verizon's most recent in-court request to stop serving up costly airwaves for which it couldn't pay, maybe it was the cold reality that it'll allegedly have a mere $9,000 in the bank as of next Monday -- but at any rate, Amp'd Mobile appears ready to throw in the towel. The Verizon-serviced MVNO today filed with a bankruptcy judge to sell substantially all of its assets at auction after discovering that it was unable to line up debtor-in-possession financing, likely setting the stage for a full shutdown in the next few days. After launching less than two years ago to considerable fanfare and burning through a healthy $360 million, it's pretty shocking to see it all go down with such a whimper -- but hey, if you're looking to pick up a Q on the cheap -- that may or may not work on any other network, that is -- this may just be your chance. Read | Permalink | Email this | Linking Blogs | Comments
  • Amp'd Files for chapter 11 bankruptcy

    Filed under: Amp'd , MVNOs We wish we could say we're surprised -- ok fine, we're always a little surprised when a company files for bankruptcy -- but it looks like Amp'd Mobile has filed chapter 11. We know the business has almost 200k subscribers , but apparently the business "couldn't keep up with the growth" -- but since when does growth and consumer interest in an MVNO's service equal business-rattling financial problems? Sounds like something weird is going on, but remember, chapter 11 just means down, not out. (Unlike the entirely out MobileESPN .) In other words, don't be surprised if Amp'd gets its business back in order and makes a triumphant return to the market -- or, you know, goes out of business entirely. [Warning: subscription req'd for link] Read | Permalink | Email this | Linking Blogs | Comments
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