In October 2001, Motient was heading into bankruptcy and spun off their non-XM satellite division into a joint operation with TMI Communications and Company, L.P., a wholly owned subsidiary of BCE Inc. of Canada. The new venture was known as the "Mobile Satellite Ventures." In November, Motient was in bankruptcy, and sold off their controlling interest in XM to Hughes Electronics, SingTel and Baron Capital Partners. Hughes Electronics would go on to combine this new interest in with the interest already held by their subsidiary, DirecTV. On November 12, 2001, XM Satellite Radio officially launched its nationwide service.