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.
Turing Robotic Industries Declares Bankruptcy
Turing Robotic Industries, a company that promised to create a sleek, secure smartphone nearly three years ago, has moved into insolvency. TRI was located in Finland and formed by some ex-Nokia employees.
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.
Sprint Signs Altice USA As Its Latest MVNO
Sprint has signed an agreement with Altice USA to resell Sprint service as an MVNO. Sprint is calling the deal a first-of-its-kind arrangement, as it will see the companies sharing services.
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.