NEWS Cellular phone pioneer Craig McCaw has come to the rescue of troubled satellite telephony firm, ICO Global Communications. Billionaire McCaw and two companies he chairs - Teledesic and Eagle River - will help contribute to a total investment of $1.2bn. In August, ICO filed for Chapter 11 bankruptcy protection in the US. Rival Iridium - which has a live service - still faces ruin, while Globalstar launched successfully last month. Richard Greco, CEO of ICO, said the financing should lead the company out of Chapter 11.
McCaw bails out ICO
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