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LightSquared was supposed to change everything. In the summer of 2010 they announced that they were going to build a nationwide 4G LTE network that they’d then let businesses resell to consumers. To put it another way, they wanted to be a wholesale “dumb pipe”, and the people in charge even used that phrase when…
LightSquared has officially filed for Chapter 11 bankruptcy status, according to a report from Bloomberg. The company once heralded for attempting to bring high-speed wireless access to as many as 260 million Americans met tough criticism from the FCC, which found that LightSquared’s technology had the potential to essentially unleash fury on GPS networks akin…
Carl Icahn is a rich old white guy who pours money into companies that he thinks he can turn around. He’s the guy who made Motorola split up, so don’t assume for a second that he’s out of his mind. Now like all investors, Carl knows when to buy and when to sell. According to…
The FCC is getting serious about providing high-speed mobile broadband connections to rural areas. The agency has begun accepting bids to bring 3G and 4G services to parts of the country that have been ignored by major carriers, and is offering as much as $300 million to assist in the development costs of these networks.…
Anyone who has been following the LightSquared case closely knows that the company is just one bad move away from Chapter 11. LightSquared is seeking a one-week extension on a debt-terms violations waiver that expires this morning, so the company can negotiate a longer-term extension that will cover the company for 18 to 24 months.…
Once facing bankruptcy and defaulting on owed payments, LightSquared has been given a reprieve in its payment schedule with Inmarsat. LightSquared and Inmarsat have announced this morning that it has reached an agreement with Inmarsat to amend the Cooperation Agreement between the to companies, after a $56.5 million payoff of past balances by LightSquared. The amended…
Ah, LightSquared. What once was part of Sprint’s grand scheme to bring an LTE network to the masses is now in desperate need of saving. LightSquared has invested billions of dollars into plans for a nationwide 4G LTE network, only to find the chosen spectrum has a good chance of interfering with critical GPS devices…
Two years ago a scrappy newcomer called LightSquared announced plans to revolutionize the American wireless industry. Their plan was simple: Build a nationwide 4G LTE network that other companies would then lease so they could sell access to consumers. Think of it this way, back in the 1990s there were hundres of internet service providers…
Back in July 2010 a company we never heard of called LightSquared announced that they would spend $7 billion to build a wholesale 4G LTE network covering the United States and that it would be up and running by the end of 2011. So what the fuck happened? First, LightSquared had to get permission to…
LightSquared, the operator that refuses to die, has just let go 45% of their 330 employee strong work force according to Reuters. The decision comes after the FCC basically told them that there’s no way in hell they’re going to be allowed to build a wireless network, because today’s GPS system is far more important…