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Carl Icahn Buys $300 Million of LightSquared Debt

Article Comments  5  

Jan 20, 2012, 8:42 AM   by Eric M. Zeman   @phonescooper
updated Jan 20, 2012, 9:06 AM

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.

more info at Wall Street Journal »



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Jan 20, 2012, 2:28 PM

He does nothing with stuff!

He bought the 70 percent completed Fontainebleau here in Vegas that was supposed to be open already like 3 years ago! That would be one of the most beautiful resorts. Then he sells the furnishings for the place at auction. Wth.
It is all part of his scheme to double up on his money ;).

He will do the same with Lightsquared.
That's exactly what I thought of when I saw your post was the Fontainblaeu. I currently live in Vegas. **But am going to school with intentions of moving back home!!!**

The Cosmopolitan is doing plenty fine, and so could the Fontainblaue if it was ...
He is a vulture. Same guy that bought TWA and ran it into the gound.
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....
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