LightSquared May Be Eyeing Bankruptcy | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-06.17.24

Airborne-NextGen-06.18.24

Airborne-Unlimited-06.12.24 Airborne-FltTraining-06.13.24

Airborne-Unlimited-06.14.24

Sat, Apr 07, 2012

LightSquared May Be Eyeing Bankruptcy

Philip Falcone Said The Talks Are 'Serious'

LightSquared's orbit may be decaying towards a catastrophic re-entry. Hedge fund manager Philip Falcone says that the company is "seriously considering" filing for protection from creditors, according to a report from Reuters.

The company suffered $427 million in losses in the first nine months on 2011, according to Falcone. It also was told by the FCC that it would not be allowed to begin operation of its 4G broadband wireless data network until it could prove that it would not interfere with deployed GPS receivers. The company would maintain the spectrum, which has value in the marketplace.

When the FCC revoked LightSquared's waiver to operate on frequencies adjacent to those used by GPS, Falcone said the company would continue to look for ways to deploy its nationwide wireless network. This talk of bankruptcy would seem to counter those statements.

FMI: www.lightsquared.com

Advertisement

More News

ANN FAQ: Submit a News Story!

Have A Story That NEEDS To Be Featured On Aero-News? Here’s How To Submit A Story To Our Team Some of the greatest new stories ANN has ever covered have been submitted by our>[...]

Aero-News: Quote of the Day (06.12.24)

“The legislation now includes a task force with industry representation ensuring that we have a seat at the table and our voice will be heard as conversations about the futur>[...]

ANN's Daily Aero-Linx (06.12.24)

Aero Linx: Waco Museum The WACO Historical Society, in addition to preserving aviation's past, is also dedicated and actively works to nurture aviation's future through its Learnin>[...]

ANN's Daily Aero-Term (06.12.24): Adcock Range

Adcock Range National low-frequency radio navigation system (c.1930-c.1950) replaced by an omnirange (VOR) system. It consisted of four segmented quadrants broadcasting Morse Code >[...]

Airborne Affordable Flyers 06.06.24: 200th ALTO, Rotax SB, Risen 916iSV

Also: uAvionix AV-Link, Does Simming Make Better Pilots?, World Games, AMA National Fun Fly Czech sportplane manufacturer Direct Fly has finished delivering its 200th ALTO NG, the >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC