WorldSpace’s ‘Houdini’ escape
IPO admits “weaknesses/deficiencies”
Washington-based satellite radio provider Worldspace unveiled its IPO prospectus April 13 to raise a reported $100m. Its FCC filing was candid in displaying its past losses, while at the same time Worldspace – not for the first time – promised wonderful riches, this time for its new investors. One DARS sector observer, begging anonymity, said that [founder] Noah Samara had “pulled off another Houdini escape”.

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COMMENT WorldSpace, some background