Gates, McCaw May Help Bail Out Iridium

Motorola Inc., the biggest shareholder of Iridium, told creditors of the bankrupt satellite-telephone network that billionaire Craig McCaw may inject as much as $300 million into the company, according to three Iridium creditors who requested anonymity. Microsoft Corp. Chairman Bill Gates also may invest an undetermined amount in Iridium, the creditors said. McCaw, who started one of the first cellular-phone companies, and Gates are backers of satellite-phone network Teledesic. Officials of Motorola told creditors of the possible investments at a meeting in New York City on Thursday with executives of banks that lent $1.5 billion to Iridium, creditors said. Motorola executives said there’s a 50% chance Gates and McCaw would invest. Motorola didn’t say how large a stake McCaw and Gates would get if they invest, the creditors said. Shares of Iridium World Communications Ltd., the publicly traded arm of Iridium, are halted. They last traded at $3.07.