https://www.wired.com/story/spacex-competitor-oneweb-is-reportedly-bankrupt/

There’s a new headstone in the satellite internet graveyard today. This one belongs to OneWeb, which, according to a report in the Financial Times, is preparing to file for chapter 11 bankruptcy protections and lay off most of its 500 staff. The report states that OneWeb began preparing to file for bankruptcy after it failed to secure $2 billion in new funding from the Japanese conglomerate SoftBank, its largest investor.

OneWeb did not respond to WIRED’s request for comment. As of Friday afternoon, OneWeb had not officially released any information about the bankruptcy on its press page or social media channels.