Gadgetell | Tech News, Reviews, and Interesting Things

Just last week it appeared like a bankruptcy was the inevitable for satellite provider Sirius XM, but how quickly things can change.  Liberty Media Corporation has just stepped in and saved them with a loan for a whopping $530 million.  The loan will be given in two parts with the… Continue Reading »

New reports are claiming that Sirius XM is “within days” of filing for Chapter 11 bankruptcy.  According to a New York Times report, the company is currently “working with advisers to prepare for a possible bankruptcy filing.”  So, as of now, they are considering the option, which means they have… Continue Reading »

Just last week, Circuit City announced plans to close a fifth of its stores.  This morning, they just filed for Chapter 11 protection in the U.S. Bankruptcy Court. The petition for Chapter 11 protection in U.S. Bankruptcy Court in Richmond, Virginia, listed $3.4 billion in assets and $2.32 billion in… Continue Reading »

Satellite radio took a hit this past week as WorldSpace filed for Chapter 11 bankruptcy.  Only two weeks ago, both Chief Operating Officers resigned. WorldSpace is a subscription-based service that broadcasts news, sports, music and educational programming to over 150,000 people.  They charge $5.00 - $10.00 per month for their… Continue Reading »

The Tempe, Arizona based Syntax-Brillian Corp has filed for Chapter 11 bankruptcy, after weak sales and numerous other problems.  The corporation, formed when Syntax Group and Brillian Corp merged, is the parent of the Olevia brand of LCD TVs, which will no longer be produced.  Syntax-Brillian’s assets were worth $175.7… Continue Reading »