Softbank-backed satellite startup OneWeb files for bankruptcy

New York (CNN Business)OneWeb — which for years chased a multibillion-dollar dream of beaming cheap, high-speed Internet from space — filed for bankruptcy on Friday. The company said it plans to "pursue a sale of its business in order to maximize the value of the company." OneWeb's assets include 74 internet satellites that launched into orbit over the past few months as it began building a constellation of more than 600 devices that the company hoped would blanket the entire planet in internet connectivity. The startup's Chapter 11 filing amounts to another black eye for its largest backer, Japanese investing giant Softbank (SFTBF). The company, which poured about...