sorry girls...
the alternative buyer is Omnisat, but that's for the asset purchase, backup to Yazmi, Samara's new shell company, which won the bid. No one knows how much Liberty put into this. They pumped a few $mill directly to wrspq as DIP financing to sustain operations in the short run, and prior to that, paid cents on the dollar to buy up the debt from original creditors, but we don't know how many cents that was. My guess was a minimum amount, because those creditors were probably happy to get anything since wrspq was broke, with very limited revenue stream (only a few hundred thousand customers).
It's hard to say why Liberty has taken this tack, but it sure looks like they're just walking away. My guess is the spectrum licenses and gov't deals weren't what they thought, and, they didn't like dealing with Samara, who probably got greedy thinking he had the better of Malone...fat chance. But, there's a lot we don't know, so will just have to wait a little while longer to get the final, definitive answer. In an earlier post I mentioned that the unused satellite (in storage) was not listed in the purchase agreement, but I could have missed it if it was buried in the detail of the 250 pages of crap. If it's still wrspq property, then this may not be over yet. Keep in mind that Liberty's turnaround guy (Schmitz) was running the show recently, so, it remains to be seen how it all winds up. With the news we do have, it certainly doesn't look promising, but, the details are still incomplete.
AI
