Yes, the Amp’d story refuses to die: Amp’d Mobile is trying to raise cash, even from its former CEO Peter Adderton, to repay some of its creditors by auctioning off intellectual property, according to The Deal.
The article said Amp’d is seeking funds from at least 20 parties, ranging from Adderton to Merrill Lynch & Co., GE Capital Financial, Latham & Watkins LLP, MTV Networks (NYSE: VIA) on Campus and Playboy Enterprises (NYSE: PLA) International. Assets for sale– being hawked by talent agency William Morris Agency, Quinn Pacific and Mosaic Capital– include the company’s brand, trademarks, content such as the “Lil’ Bush” cartoon and a mobile content studio. In particular, the company is seeking as much as $1.15 million in payments made to Adderton, who allegedly “refused to perform certain aspects of his employment” and “threatened to take actions that would damage” the company. The Deal said it is unclear whether the passages are merely describing a dispute between Adderton and the board.
Today, Adderton and some of Amp’d’s former employees are working at ClearMedia, a new content division at WiMax company Clearwire.