Amp’d Mobile Files Chapter 11 Bankruptcy; Hopes To Restructure, With Funding In Place

Update: it has filed…see this follow-up post.
Amp’d Mobile, the content-heavy MVNO which has had close to $360 million pumped into it over the last two years, will be filing has filed for Chapter 11 bankruptcy in the Delaware bankruptcy court, MocoNews.net has learned through sources, in hopes to restructure the company and the board. This comes after a protracted board fight over the future direction and additional funding of the company in which MTV Networks and Universal Music Group have investment, besides other VC and private equity firms. From what we know, the company has the funding in place to take it out of bankruptcy court quickly, and continue the operations. Not sure whether the current management structure will stay in place. We will have more as we find out more.

For our full coverage on the Amp’d drama, read our dedicated section.


loading

Comments have been disabled for this post