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LightSquared Prepping for Bankruptcy

May 14, 2012, 8:07 AM by Eric M. Zeman

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.

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Comments

This forum is closed.

This forum is closed.

MadFatMan

May 14, 2012, 10:23 AM

This Is So Wrong On So Many Levels

Lightsquared, like any other company, purchased spectrum from the government, in good faith, with the intention to operate its business as any other operator in this industry,

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 ...
(continues)

dlmjr

In reality, LS did not purchase any spectrum from the FCC, they purchased it from a company that does sattelite communications from space.

The spectrum was never intended for terrestrial broadcast use.

LS asked the FCC to grant an exception to t...
(continues)

...

Andras888

May 14, 2012, 9:18 AM

Is LightSquared arrogant?

Somehow to me the tone and substance of their communication to the FCC over the months was irritating.

dlmjr

Falcone is 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.

...

Jayshmay

I agree.

perdition

May 14, 2012, 9:25 AM

So I heard..

DIABLO 3 LAUNCH RELEASE IS THE LIGHTSQUARED FUNERAL PARTY HAHA

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