Worldspace auction re-set for Feb 20

Pay-radio broadcaster Worldspace has asked the Delaware Bankruptcy Court to set Feb 20 as its new auction date. This means that the formal ‘sale hearing’ where the assets of the company would be determined could now take place a few days later on Feb 25.

Worldspace is also asking the Court to extend its ‘Debtor in Possession’ authorisation which permits Worldspace to stay in control under the original Chapter 11 provisions. The DiP controls had expired on Jan 29.