OneWeb files for Chapter 11 bankruptcy protection, ending Microcom deal

Image courtesy MGN Online
Image courtesy MGN Online(KMVT)
Published: Apr. 17, 2020 at 10:52 PM AKDT
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Editor's note: A previous version of this story incorrectly stated that OneWeb Satellites filed for Chapter 11 bankruptcy protection. OneWeb, the parent company of OneWeb Satellites, filed for Chapter 11 bankruptcy protection. OneWeb Satellites is still operating.

An international partnership to boost Alaska’s broadband connectivity has ended after one of the companies collapsed because of the coronavirus pandemic's economic fallout.

The Alaska Journal of Commerce reported OneWeb filed for Chapter 11 bankruptcy protection, effectively ending a deal the company made with Anchorage-based telecom Microcom Inc.

The global satellite broadband company based in London says it was in advanced negotiations for investment that would have funded the company through its commercial launch. OneWeb says the company's efforts were hurt by market turbulence linked to the spread of COVID-19.

OneWeb was working with Microcom subsidiary Pacific Dataport Inc.

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