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In only a year, it was announced that bankruptcy was near, and they received a $225 million credit line from Hughes Aircraft Co, along with a few others in order to bail themselves out. At this point the overall management team and business plan went under reconstruction, including the hiring of a new CEO, Gary Parson. After one year of getting on a new track, AMSC spent $98.9 million to buy an FCC license allowing them to broadcast digital radio signals by means of satellite. At this time, this was only one of two licenses granted by the FCC, the other going to a company named CD Radio Inc. which had also been working on the satellite radio concept for the past 7 years...
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