The story has been all over the news. It looks like they will try to sell off assets between now and the end of July. Amp'd Live and Amp'd International are up for sale. Lil Bush is part of Amp'd Live – the entertainment portal. I still think it would make a good brand for a larger carrier as they begin to recognize the need that one size doesn't fit all with UI's these days.
The market they faced was tough – as I posted about a year ago. Very, very few mobile subscribers make service provider decisions based on entertainment choices alone. The team at Amp'd was visionary and had some great ideas – if the assets aren't absorbed back into the larger carriers, hopefully the team will have interest in doing so. The larger carriers could use some of the creative thinking Amp'd had. They would also have the means to implement.
Here are some other posts that I've had on MVNO's.
Amp'd Mobile: From Media to Minutes (see post)
Chapter 11 (see post)
MVNO's – Not Much New to Say (see post)
MVNO Math (see post)