Hours away from defaulting on debt, LightSquared filed for bankruptcy protection. The company has said it would use the shelter of Chapter 11 to buy time in its fight to build its nationwide LTE network, but this could just be a prelude to a liquidation of assets. Read more »
LightSquared is preparing for a potential bankruptcy filing on Monday as it has made little progress in its negotiations with debtholders. If LightSquared does enter into bankruptcy it might find Dish Network waiting, eager to relieve it of its spectrum. Read more »
Carl Icahn has been quietly buying up LightSquared’s debt a rock bottom prices, which would put the activist investor in position to take over the company in the increasingly likely event of bankruptcy. But would there be anything left of LightSquared to salvage? Read more »
LightSquared accused the commercial GPS industry of “rigging” government tests on the potential GPS interference problems of its LTE network and called for new rounds of tests from independent labs with no participation from GPS device makers. Read more »
Sprint has given its partner LightSquared 30 days to get regulators to green-light the launch of its controversial 4G service, but it may not be enough. If Sprint pulls out of the network-sharing deal, LightSquared’s costs multiply, almost certainly killing its rollout plans. Read more »
