Falcone Weighing Bankruptcy for LightSquared
Philip Falcone, manager of the hedge fund that finances LightSquared, said he is considering filing for bankruptcy protection for the troubled broadband provider. LightSquared sought to use L-Band spectrum to provide a terrestrial LTE 4G mobile broadband network. The Federal Communications Commission blocked LightSquared's plans based on fears of interference with GPS systems. Since then, LightSquared has missed making several payments to Inmarsat and Sprint voided the company's planned network sharing agreement. Falcone said bankruptcy is not what he wants, and he still wants to make LightSquared work, but it may be his only option moving forward.
RadioShack Declares Bankruptcy, to Sell Stores to Sprint
RadioShack today filed for Chapter 11 bankruptcy protection and signed an agreement to sell approximately 1,750 of its stores to Sprint. Under the terms of RadioShack's Chapter 11 filing, RadioShack will sell the stores to Sprint and General Wireless, a subsidiary of one of RadioShack's major investors.
Judge Approves Sale of RadioShack Stores
A U.S. judge has given RadioShack permission to sell its 1,740 stores to Standard General, a hedge fund that plans to operate the stores with Sprint.
FCC: Still Work to Do to Free Up More Spectrum
FCC Commissioner Tom Wheeler underscored the need to find and free up more spectrum in a recent meeting with the Obama Administration. Wheeler met with Lawrence Strickling, the Assistant Secretary of Commerce for Communications and Information, to discuss the FCC's progress in finding 500 megahertz of spectrum for wireless broadband.
FCC Chair Floats 3.5GHz Sharing Proposal
The FCC is moving forward with plans to free up a portion of the 3.5GHz band for wireless broadband use. The agency has been exploring the idea of sharing the airwaves with the incumbent users, including the military, and wants to make 150MHz of the spectrum available for wireless purposes.