Tag Archives: lightsquared
Wholesale Wireless Service Provider LightSquared Files For Bankruptcy
Thing have looked grim for upstart wireless service provider LightSquared ever since the FCC officially withdrew their conditional approval to build out the terrestrial part of their LTE network, and now it seems like it may all come to an end.
After the demise of their partnership with Sprint, the resignation of CEO Sanjiv Ahuja, and the laying off of nearly 45% of their employees, Bloomberg reports that the Virginia-based company has just filed for Chapter 11 bankruptcy today.
LightSquared files for Chapter 11 bankruptcy
LightSquared on Monday filed for Chapter 11 bankruptcy after its planned high-speed wireless network was derailed by regulators, Bloomberg reported. The company’s data network would have covered as many as 260 million users, however it failed to...
LightSquared officially files for Chapter 11 bankruptcy
As expected, May 14th is indeed a dark day for LightSquared. The company has just filed paperwork in order to initiate Chapter 11 bankruptcy proceedings in Manhattan's US Bankruptcy Court, effectively killing its dream of providing a high-speed mobil...
WSJ: LightSquared ‘preparing’ for bankruptcy protection filing, final decision coming tomorrow
Can't say it's striking us as any sort of surprise, but the seemingly destined-to-fail LightSquared just might be out of options. After getting a high-five from Sprint and plenty of attention for its initiatives in bringing yet another wireless optio...
Carl Icahn unloads his LightSquared debt, creditor talks trudge on
Carl Icahn is no stranger in this field -- he's been caught tussling with Motorola and bidding Yahoo's board adieu in recent years -- and most recently, he's managed to get caught up in one of the bigger wireless whirlwinds this planet has ever seen....
RIM appoints new marketing, operating execs
Research In Motion on Tuesday named two new executives as the shake-up atop its organization continues. Recently-appointed chief executive officer Thorsten Heins said during his first day on the job that finding a new marketing boss and making drastic changes to the company’s marketing strategy were top priorities for the struggling smartphone maker. While the company’s marketing efforts have yet to pay off — though it does seem to be trying new things, at least — a new chief marketing officer has now been named. Frank Boulben, former executive vice president of strategy, marketing and sales for LightSquared, has been appointed CMO effective immediately, and joining him is new chief operating officer, Kristian Tear, who comes from Sony Mobile where he was
LightSquared considering bankruptcy after being derailed by regulators
LightSquared founder Phillip Falcone said he may consider voluntary bankruptcy for his troubled wireless broadband venture, Bloomberg reported on Wednesday. “There are arguments that we would be better off in bankruptcy than not,” Falcone said. “LightSquared, if I have to, I’ll put it into bankruptcy. I don’t care,” adding that he would maintain control of the company if it were to file. LightSquared planned to build a high-speed data network that would cover as many as 260 million users, however it failed to gain approval from federal regulators. The FCC blocked LightSquared’s LTE network in February due to concerns surrounding interference with GPS systems. Through his hedge fund Harbinger Capital Partners, Falcone has invested roughly $3 billion in the failed venture. Bankruptcy is
Dish Network’s spectrum should avoid GPS issues suffered by LightSquared, analysts say
Philip Falcone’s startup LightSquared planned to deploy a nationwide 4G LTE network in the United States. The firm’s service was found to cause interference with spectrum used by various GPS navigation and tracking solutions, however, forcing the Federal Communications Commission to block the network’s launch. Dish Network is looking to build a similar network and is currently awaiting government approval. Executives and analysts have said that Dish will probably avoid the interference concerns that killed LightSquared’s network, Bloomberg reported on Monday. The satellite company’s frequencies, which are above 2GHz, are far away from those used by GPS devices and Lightsquared’s 1600Mhz band, and are less likely to interfere. “It’s not as close to GPS, so it’s unlikely to interfere,” said Matthew Desch,
Sprint officially ends agreement with LightSquared
Sprint on Friday announced that it has terminated its agreement with LightSquared. The two companies agreed last June to an 11-year deal that would share network expansion costs and equipment if LightSquared could secure regulatory approval for its 4G LTE network build-out. “Sprint has been and continues to be supportive of LightSquared’s business plans and appreciates the company’s efforts to find a resolution to the interference issues impacting its ability to offer service on the 1.6 GHz spectrum,” the company said in a press release. “However, due to these unresolved issues, and subject to the provisions of the agreement, Sprint has elected to exercise its right to terminate the agreement announced last summer. We remain open to considering future spectrum
Sprint Officially Kills LightSquared Deal, Returns $65M In Prepayments
It only seemed like a matter of time before things got worse for LightSquared, and today the nation’s third largest wireless carrier has dealt the ailing company another significant blow. With the upstart network provider unable to land FCC approval thanks to some pesky GPS interference issues, Sprint has announced that they have chosen to officially terminate their agreement with LightSquared.
