Tag Archives: LightSquared LTE

LightSquared pitches new plans to FCC in attempt to end GPS interference hex

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LightSquared files new plans to the FCC, hopes to cast off GPS interference hex

If you thought filing for Chapter 11 bankruptcy was the final chapter in LightSquared's wireless network saga, you'd be wrong. Hedge-fund manager Philip Falcone is back at the FCC's doorstep with yet another proposal, which he hopes might snatch the maligned network from the jaws of GPS interference-related troubles. Two filings placed with the commission apparently outline plans to use its broadband network in a way that it believes won't interfere with GPS signals, along with the 5MHz of spectrum that are known not to cause any issues. Along with the proposed changes, LightSquared is reportedly set to ask for more time to have exclusive rights to propose a reorganization plan. If granted, this could finally mean some progress for the beleaguered project, but with investors worried that money being spent on this could be better-placed back in their pockets, Falcone will have everything crossed, while the FCC deliberates the situation.

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LightSquared pitches new plans to FCC in attempt to end GPS interference hex originally appeared on Engadget on Sun, 30 Sep 2012 05:04:00 EDT. Please see our terms for use of feeds.

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LightSquared founder Philip Falcone to step down ‘eventually’, attempts to dodge the bankruptcy bullet

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In an effort keep the troubled LightSquared from the brink of defaulting on its debt, its founder will step down from the company. While it doesn't look immediate, (people "familiar with the negotiations" are using the word "eventually") it's Philip Falcone's latest attempt to extend a debt-term violation that expires this morning. According to the same sources, if the initial extension is okayed, Falcone and LightSquared's lenders are aiming for a greater period of around 18 months to repay $1.6 billion in loans and pass the FCC's requirements for its network. The company's board is still deliberating on whether to accept the deal, which would stop the company filing for bankruptcy protection. Unfortunately, it looks like those new 4G network dreams just got hazier.

LightSquared founder Philip Falcone to step down 'eventually', attempts to dodge the bankruptcy bullet originally appeared on Engadget on Mon, 30 Apr 2012 06:56:00 EDT. Please see our terms for use of feeds.

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Inmarsat hands LightSquared a lifeline, hopes to get that $56 million back later

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Remember LightSquared? Of course you do, it was the noble yet doomed attempt to build a nationwide 4G LTE network. Days before Sprint dumped it, billionaire Philip Falcone's enterprise defaulted on a $56 million spectrum allocation payment to British satellite operator Inmarsat. Now LightSquared's biggest creditor has offered a stay of execution to give the company time to overcome the regulatory hurdles (we'd suggest praying Julius Genachowski gets another job elsewhere) and get the project back on track. Cynics might suggest it's only been given the breathing room because it's not worth being pushed into Chapter 7 bankruptcy, to which we say shame on you, you naughty cynics.

Continue reading Inmarsat hands LightSquared a lifeline, hopes to get that $56 million back later

Inmarsat hands LightSquared a lifeline, hopes to get that $56 million back later originally appeared on Engadget on Fri, 20 Apr 2012 13:36:00 EDT. Please see our terms for use of feeds.

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