Carl Icahn Buys $300 Million of LightSquared Debt
Carl Icahn has scooped up a large portion of LightSquared debt, totaling $300 million worth of the company's $1.6 billion in loans. The move is a strategic one that could give Icahn a say in the company's future, should its bid to run a Long Term Evolution 4G network on the L-band satellite spectrum fails. LightSquared is being funded by Philip Falcone's Harbinger Capital, which is currently under SEC investigation. LightSquared has the cash to operate for a few more quarters while it continues to petition the Federal Communications Commission for permission to run its network. Some believe LightSquared will run out of cash before it garners FCC approval. Icahn has a long history of activist investing, notably with Motorola.
T-Mobile's LTE Network Covers 300 Million People
T-Mobile said its LTE 4G network now reaches 300 million Americans, a significant milestone for the Uncarrier. The company says it is ahead of schedule, and will add coverage to one million square miles this year.
Sprint to Sell Certain Network Assets for $2.2 Billion
Sprint has agreed to sell select network assets to a company called Network LeaseCo and then lease back those assets for an unspecified sum. The move is meant to boost Sprint's cash position and will eventually add $2.2 billion to the company's coffers.
T-Mobile Touts Network Milestones
T-Mobile CTO Neville Ray took to the company's blog today to share news of the Uncarrier's LTE network. The company says its LTE 4G footprint grew by almost 1 million square miles during 2015 and is available to 304 million Americans.
SoftBank, Sprint Majority Owner, to Split In Two
SoftBank today revealed a plan to separate itself into two separate companies, one for its Japan-based carrier business and another for its international operations, including Sprint. SoftBank's domestic business unit, which includes investments in Yahoo Japan, will be run by Ken Miyauchi.
He does nothing with stuff!
He will do the same with Lightsquared.
The Cosmopolitan is doing plenty fine, and so could the Fontainblaue if it was ...
He will hold about 18% (if I figured right) of LS debt which will probably put him near the first of the line when it goes under.
But, he doesn't do these things without a plan....