LightSquared Prepping for Bankruptcy
Beleaguered LightSquared, the Philip Falcone-backed mobile broadband company, is teetering on the edge of bankruptcy. The company has been negotiating with lenders in recent days to restructure its debt and avoid defaults. According to the Wall Street Journal, however, it has been unable to reach such agreements. LightSquared has until 5PM today to resolve debt issues with its lenders. If it cannot, it will likely seek bankruptcy protection. LightSquared hoped to build a nationwide LTE mobile broadband network, but the Federal Communications Commission blocked the plan, citing interference issues with nearby GPS signals.
Sprint May Scoop Up Half of RadioShack's Stores
RadioShack and its creditors might sell half the company's stores to Sprint and close the remaining locations, reports Bloomberg. Sources familiar with the companies' plans suggest Sprint would rebrand the RadioShack stores, which would cease to exist as stand-alone electronics stores.
Verizon Closer to $10B Asset Sale to Pay Down Debt
Verizon Communications has lined up several deals that will earn it up to $10 billion, reports the Wall Street Journal. The company took on a massive amount of debt to buy Vodafone's portion of Verizon Wireless last year.
AT&T to Buy Second Mexico Carrier for $1.875B
AT&T today announced its intent to purchase Nextel Mexico, which covers 76 million customers across the country. Nextel Mexico is owned by NII Holdings and AT&T will pay it $1.875 billion.
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.
Microsoft Still Working Through Windows 10 Mobile Builds
Microsoft today said new builds of the Windows 10 Mobile Technical Preview are on the way, even if they are rolling out slower than the company hoped. In a blog post, Microsoft explains that it encountered several large issues that forced it to reset its approval process three times over the past several weeks.
This Is So Wrong On So Many Levels
Out of left field, claims (true or not) stated that their operation as going to interfere with GPS systems and as I consumer I was concerned as were many of us regarding this matter,
Now just MAYBE I have this oversimplified but should LightSquared be offered some sort of compensation, concession, refund or something for this purchase instead of being given the bums rush,
I am not totally dogmatic on this, yes I am a PROUD Sprint Fan Boi to the core, but this has nothing to do with my question.
I just want to see some fairness here,If my facts are out of ...
The spectrum was never intended for terrestrial broadcast use.
LS asked the FCC to grant an exception to t...
Is LightSquared arrogant?
He hit it big because of the housing bubble burst, made tons of money on a flyer and hasn't done anything since.
This was another flyer and it was a total loser.
He's also being investigated on several levels.
So I heard..