Smackall Games - Mobile Game Developer

Mobile Game Development News

XM Nixes WCS Wireless Buyout, Citing Lack of Government Approval

XM is surely having a tough month. First RIAA sues them, and now this: It is pulling out of its plan to buy WCS Wireless, citing failure to get government approval. The deal for WCS, which owns wireless spectrum licenses in 15 out of the 20 top metropolitan areas in the U.S., was announced last July. It was planned as a stock deal, worth 5.5 million shares. Both parties expected the deal to close by now.

?With the inability to obtain the necessary government approval for this transaction in a timely manner WCS Wireless needed to pursue alternatives for its spectrum with greater certainty of regulatory approval,? said XM chairman Gary Parsons in a statement.

This acquisition would have allowed XM to expand its local data offerings such as traffic services, launch a video service, or add additional satellite-radio stations targeted to certain markets, and that created unhappiness among broadcaster and also the traditional radio operators.

Other Common News:
1) Sun Media to acquire foreign mobile game company Upstart Games
2) Trip Hawkins to Deliver GDC Mobile Keynote
3) Mitch Lasky On EA Mobile
4) Games cost crazy money to make
5) Brewing the gaming market



Copyright © 2012 Smackall Games Pvt Ltd. All rights reserved.