Lenders to ailing US wholesale player LightSquared have voiced their opposition to the CEO Philip Falcone’s plans to resurrect the business. The firm filed for Chapter 11 bankruptcy protection in May this year, but now its lenders have told a US bankruptcy court that Falcone’s plans are “too risky”.
US wholesale player LightSquared has filed for Chapter 11 bankruptcy protection amid efforts to resolve regulatory issues that have prevented it from launching its satellite service.
Poor old Sprint Nextel. The firm is facing a “very legitimate risk” of bankruptcy in the next four years, according to one (attention seeking?) financial analyst.
US carrier Sprint has officially broken up with troubled LTE wholesale opportunist LightSquared, ending the spectrum hosting agreement signed in June 2011. As part of the break up, Sprint has repaid $65m to LightSquared, for expected costs that have not been incurred.
LightSquared, the embattled LTE 4G US player, has hired well-known solicitor Theodore Olsen in a final bid to save its seemingly doomed terrestrial LTE network project. Olsen’s main claim to fame was helping George W. Bush claim a victory in the 2000 US election in the Bush v. Gore Supreme Court case.
US carrier Lightsquared’s fortunes are going from bad to worse, as satellite firm Inmarsat has told the London Stock Exchange that it has not received a payment of $56.25m from the company.
The US Federal Communications Commission (FCC) has said that it plans to indefinitely suspend a conditional waiver that would permit LightSquared to build a ground-based LTE network using satellite spectrum. The decision was made following a recommendation from the National Telecommunications and Information Administration (NTIA), which said that it performed a “substantial amount of testing and analysis” regarding LightSquare’s plans and the impact they would have on GPS services.
LightSquared, the aspiring US LTE carrier, has received a hammer blow to its hopes of shaking up the US market with a wholesale LTE network from a damning report released last week by the executive committee for Space-based Positioning Navigation & Timing (PNT).
Aspiring US wholesale player LightSquared, which is planning a nationwide wireless broadband offering over satellite and LTE networks, has released details of a technical solution that it says will put an end to interference between its network and GPS devices.
Philip Falcone, manager of hedge fund Harbinger Investments, which funds US wholesale LTE/satellite player LightSquared, has hit back at the US interest group the Coalition to Save our GPS, claiming that interference problems are the fault of incumbent GPS users, and not of LightSquared. In an interview with US broadcaster CNBC, Falcone said that existing GPS users did not apply the “proper filtering” to their devices and that “we’re not interfering with them; they’re interfering with us.”
US wholesale player Lightsquared has confirmed that it has entered into a partnership with Sprint Nextel that will see Sprint deploy an LTE network on Lightsquared’s behalf. The deal has put a serious dent in the US ambitions of Nokia Siemens Networks, which was named as Lightsquared’s network deployment partner last year.
LightSquared has announced that it has raised an additional $265m in additional funding, bringing the company’s total investment haul for the past year to more than $2.3bn. According to LightSquared, the capital was drawn from both existing as well as new investors; beyond that, it’s not naming names. The deal comes amid a period of turbulence for LIghtSquared, which is facing opposition from the GPS establishment over interference issues.
Embattled LTE startup LightSquared’s woes appear not to have put off prospective customers, as the company announced yesterday that VoIP provider netTalk had joined Sprint, Best Buy and Leap Wireless as a wholesale customer of the telco.
Greenfield operator LightSquared’s woes look set to continue, with news that a US House of Representative’s committee has passed a bill blocking the Federal Communications Commission (FCC) from granting the would-be wholesaler a waiver it needs to move forward.
Greenfield operator LightSquared’s announcement of a solution to its GPS interference problems has been met with derision by GPS industry body, Coalition to Save Our GPS. The Coalition, which counts Garmin, TomTom, FedEx and the Air Transport Association among its members, issued a statement referring to “this latest gambit by LightSquared” as “bordering on the bizarre.”
LightSquared has announced a plan to switch spectrum bands in an effort to head-off concerns that its frequencies interfere with GPS systems. The announcement comes just two days after the wholesaler secured a last-minute extension to a deadline requiring it to submit a report on interference to the US Federal Communications Commission.
LightSquared, the US operator planning to build a wholesale LTE network, has finalised a 15-year deal with fellow carrier Sprint that will see the two sharing infrastructure. Bloomberg said that it has obtained a letter from LightSquared’s billionaire owner Philip Falcone to his Harpinger Capital Partners hedge fund investors, informing them of the deal.
US-based LTE wholesale carrier LightSquared has been granted a two week extension on its deadline to file a report on whether it is able to build out its network without interfering with GPS signals.
US wholesale carrier LightSquared’s proposed mobile network does cause interfere with local GPS signals, a US government agency has confirmed. The news comes as a blow to LightSquared, which is hoping to be a disruptive force in US telecoms space by offering a country-wide LTE network on a wholesale basis for third-parties to run services over.
LightSquared, the wholesale LTE network provider that’s set to shake up the US carrier market in 2011, has announced another customer in the guise of Cellular South, a privately owner wireless communications provider.
County Broadband this week announced it has begun construction of a new full fibre network in Suffolk, thereby exte hhttps://t.co/p9888hpjnb
23 March 2023 @ 17:00:56 UTC
UK regulator Ofcom says licenses for unused 2100 MHz (1900-1920 MHz) spectrum may be revoked the and the spectrum r hhttps://t.co/ZqPsmJjAwT
23 March 2023 @ 17:00:33 UTC
Figures for 2022 show that while the telecoms equipment sales rose in 2022 by 1%, it's a declining rate of growth. hhttps://t.co/yaUiZXX6GD
23 March 2023 @ 13:36:13 UTC
