Report: LightSquared Chapter 11 Bankruptcy Filing Looms After Failed Debt Talks (Updated)
Beleaguered mobile broadband carrier facing Chapter 11 protection after latest creditor talks break down. Company faces protracted bankruptcy court hearings if no last-minute deal is reached. Updated with bankruptcy filing
LightSquared Founder to Step Down to Avoid Bankruptcy and Possible Liquidation
LightSquared founder to step down from company in exchange for extension on late debt covenant payment, adding more problems to embattled mobile broadband network.
LightSquared to Consider Chapter 11 After Recent Struggles
Beleaguered wholesale mobile broadband network considering reorganization after recent struggles, demonstrates current state of wireless industry.
Sprint Announces Formal Termination of LightSquared Agreement
Sprint officially announces termination of network hosting and spectrum agreement with LightSquared
Report: Sprint to Abandon LightSquared Deal, Shores Up More Wholesale LTE Deals
Bloomberg has filed a report citing sources within Sprint that states that the carrier will be walking away from its network sharing deal with LightSquared in light of the network’s struggles to remain viable in the wake of the FCC’s recent revocation of its provisional approval for LightSquared to launch its planned LTE network. For […]
LightSquared Close to Bankruptcy, Misses Key Payment and Lays Off Workers
The bad news is piling on for embattled network LightSquared, as the company has missed a key payment to satellite network operator Inmarsat as it scrambles to remain in business following last week’s FCC decision to reject the network rollout until the company can reassure the regulator that its planned LTE network will not interfere […]
LightSquared CEO Sued By Investors, Network Rollout Halted by Regulators
After a tumultuous year which saw LightSquared garner attention by attempting to become the first wholesale LTE network powered by satellite arrays and signing on carriers such as Sprint, Leap Wireless and countless virtual operators, Philip Falcone’s attempt to become the Craig McCaw of LTE has been struck dead thanks to the FCC and the […]
Sprint and LightSquared: What The Network Deal Means
Earlier today, weeks of speculation were formally confirmed when Sprint and LightSquared announced a new network deal worth up to $15 billion for Sprint in cash and network access credits, while LightSquared will use the carrier’s newly reconfigured network under the Network Vision initiative to build out its L-Band based hybrid satellite-terrestrial wholesale LTE network. […]
LightSquared Files Report, Squarely Blames GPS Industry
LightSquared, the planned satellite-based LTE network meant for wholesale access has filed its expected report to the FCC on the results of its interference testing after missing its initial deadline at the beginning of the month. The results of the report are unsurprising to those with experience with satellite-based communications, but LightSquared’s position on the […]
Report: LightSquared Signs 15 Year Deal with Sprint
Upstart network LightSquared has signed a 15 year agreement with Sprint in principle to deploy its nascent nationwide satellite-based LTE network according to a report by Bloomberg citing the letter of intent sent to LightSquare investors earlier today at the close of the deal. Financial terms were not disclosed other than the worth of the […]