LightSquared's Cash Reserves Drying Up
According to financial documents filed by LightSquared, the company only has the cash to continue operations through the second quarter of 2012. The company lost $427 million during the most recent quarter and has been given more than $3 billion by Philip Falcone's Harbinger fund over the last few years. The company has nearly $1 billion in debt payments due in 2012, and its business is not yet operational. The company has signed dozens of reseller agreements with various regional wireless companies that hope to offer LightSquared's Long Term Evolution 4G services to their own customers. The planned network has yet to receive final approval from the government as it continues to test GPS-related interference issues.
BlackBerry and Cisco Forge Patent Cross-Licensing Pact
BlackBerry and Cisco today announced that they have signed a long-term patent cross-licensing agreement. The agreement applies to a number of products and technologies, though the companies didn't specify which ones.
Avago to Buy Broadcom for $37 Billion
Avago Technologies today said it plans to acquire Broadcom for $37 billion. Avago is offering Broadcom's shareholders $17 billion in cash and $20 billion in Avago stock.
Verizon to Sell Landline Biz to Frontier for $10 Billion
Verizon Communications today confirmed plans to sell part of its wireline telephone and internet business to Frontier Communications for $10 billion. The deal covers Verizon's consumer and business assets in California, Florida, and Texas.
BlackBerry Finalizes Secusmart Acquisition
BlackBerry today said it has closed its acquisition of Secusmart, a security company based in Germany. Secusmart specializes in voice and data encryption.
so how do they
expect to build a network with no money?
Look at all the 'deals' they have made.. but they are all dependent upon FCC approval.. so they are cash starved now
Things that make you go hmmmm