The Guardian
trending topics
Close Box

Our news

Yes, it’s true: We are joining GigaOM...


Bankrupt Amp’d Seeking Funds From CEO Adderton And Others To Repay Creditors

  • Comments Comments (View)
  • Text Size: A A

Yes, the Amp’d story refuses to die: Amp’d Mobile is trying to raise cash, even from its former CEO Peter Adderton, to repay some of its creditors by auctioning off intellectual property, according to The Deal.

SEE ALSO: Clearwire’s Content Play: ClearMedia; Former Amp’d Execs Involved

The article said Amp’d is seeking funds from at least 20 parties, ranging from Adderton to Merrill Lynch & Co., GE Capital Financial, Latham & Watkins LLP, MTV Networks (NYSE: VIA) on Campus and Playboy Enterprises (NYSE: PLA) International. Assets for sale—being hawked by talent agency William Morris Agency, Quinn Pacific and Mosaic Capital—include the company’s brand, trademarks, content such as the “Lil’ Bush” cartoon and a mobile content studio. In particular, the company is seeking as much as $1.15 million in payments made to Adderton, who allegedly “refused to perform certain aspects of his employment” and “threatened to take actions that would damage” the company. The Deal said it is unclear whether the passages are merely describing a dispute between Adderton and the board.

Today, Adderton and some of Amp’d's former employees are working at ClearMedia, a new content division at WiMax company Clearwire.

Feb 8, 2008 2:29 PM ET

Posted In: Technologies / Formats, Broadband, WiMax, Companies, Amp'd

(Page 1 of 1)


The Bestsellers

From iTunes and YouTube to Facebook and Kindle, the most popular content on the web, free and paid.

Android Apps (Paid) Android Apps (Paid)
1. Where's My Water?
2. Beautiful Widgets
3. Cut the Rope
4. MADDEN NFL 12 by EA SPORTS™
5. NFL Flick Quarterback
See The Other Bestsellers »

Jobs RSS Job Listings

Social Standing

Which media brands are getting a lift from Tweeters and bloggers right now -- and which are getting panned?

"Sentiment" Scores for All the Companies »

Sponsors

Staff