AT&T partner TerreStar may be on the verge of filing bankruptcy. The Virginia-based firm had released an announcement four days ago stating that the FCC had given them the go ahead to use the same wireless frequencies that it uses for both it's satellites and its commercial devices on land, according to SpaceNews.com.
This had followed some hand-wringing from the company that had feared a 'catastrophe' if their request did not go through. Two days later, Wall Street Journal reported that TerreStar was considering bankruptcy despite their approval from the FCC. As Engadget pointed out this afternoon, TerreStar had just released their Genus satellite phone last month.