OneWeb files for Chapter 11 bankruptcy protection, ending Microcom deal
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.