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Article: SkyPix backing wanes as lawsuits still fly. (financial troubles set back SkyPix Corp.)
- Article from:
- Multichannel News
- Article date:
- June 8, 1992
- Author:
CopyrightCOPYRIGHT 1992 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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With a federal securities probe of a recent SkyPix-related investment offering under way, SkyPix Joint Venture L.P.'s most prestigious investor, Microsoft Corp. founder Paul Allen, has traded his general partnership interest in the faltering satellite venture for a limited partnership role.
No fewer than three entities - an Allen-led group and two entities controlled by New York financial syndicators Fred and Richard Greenberg, Northwest Starscan L.P. and Skypix Corp. - were general partners in the Seattle-based joint venture, in which the Greenbergs also held a majority stake.
After failed talks with two potential equity partners, COMSAT Video ...