Amp’d Mobile to Shut Down, Sell Assets
7/23/07 – In the concluding act of a spectacular flameout, Los Angeles-based mobile service and content provider Amp’d Mobile will shut down and sell off its assets, after the company was unable to secure financing to see it through the chapter 11 reorganization process. Officially, Amp'd has told customers that it is “potentially suspending U.S. operations on July 24th.”
Amp’d is a mobile virtual network operator, or MVNO, meaning that the company buys wholesale network service from a cellular network operator and offers value-added service on top of the basic phone service. In Amp’d’s case, the company leased space on Verizon Wireless’s network, and focused on entertainment services for the youth market.
In terms of next steps, Amp’d said in its Q&A for customers that it is “currently in discussions with several parties” about a sale of its assets.
Amp’d Mobile – www.ampdmobile.com
Other stories on the Amp’d Mobile bankruptcy:
Amp’d Mobile Settles with Verizon Wireless
Amp’d Mobile’s Lifeline Extended
