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lightsquared

LightSquared files for Chapter 11 bankruptcy

May 14th, 2012

LightSquared on Monday filed for Chapter 11 bankruptcy after its planned high-speed wireless network was derailed by regulators, Bloomberg reported. The company’s data network would have covered as many as 260 million users, however it failed to gain approval from federal regulators. The FCC blocked LightSquared’s LTE network in February due to concerns surrounding interference with GPS systems. …

RIM appoints new marketing, operating execs

May 8th, 2012

Research In Motion on Tuesday named two new executives as the shake-up atop its organization continues. Recently-appointed chief executive officer Thorsten Heins said during his first day on the job that finding a new marketing boss and making drastic changes to the company’s marketing strategy were top priorities for the struggling smartphone maker. While the …

LightSquared considering bankruptcy after being derailed by regulators

April 5th, 2012

LightSquared founder Phillip Falcone said he may consider voluntary bankruptcy for his troubled wireless broadband venture, Bloomberg reported on Wednesday. “There are arguments that we would be better off in bankruptcy than not,” Falcone said. “LightSquared, if I have to, I’ll put it into bankruptcy. I don’t care,” adding that he would maintain control of the …

Dish Network’s spectrum should avoid GPS issues suffered by LightSquared, analysts say

March 19th, 2012

Philip Falcone’s startup LightSquared planned to deploy a nationwide 4G LTE network in the United States. The firm’s service was found to cause interference with spectrum used by various GPS navigation and tracking solutions, however, forcing the Federal Communications Commission to block the network’s launch. Dish Network is looking to build a similar network and is …

Sprint officially ends agreement with LightSquared

March 16th, 2012

Sprint on Friday announced that it has terminated its agreement with LightSquared. The two companies agreed last June to an 11-year deal that would share network expansion costs and equipment if LightSquared could secure regulatory approval for its 4G LTE network build-out. “Sprint has been and continues to be supportive of LightSquared’s business plans and …

Sprint to end deal with LightSquared, report claims

March 7th, 2012

Sprint is reportedly planning to walk away from its planned network-sharing deal with LightSquared as early as next week, Bloomberg reported on Wednesday. Sprint and LightSquared in June agreed to an 11-year deal that would share network expansion costs and equipment if LightSquared could secure regulatory approval for its 4G LTE network build-out. The carrier …

LightSquared CEO steps down, will remain chairman of the board

February 28th, 2012

LightSquared on Tuesday announced that Sanjiv Ahuja has resigned from his role as chief executive officer. Chief network officer Doug Smith and and CFO Marc Montagner will serve as interim co-CEOs, and Ahuja will continue to serve as chairman of the board. Additionally, LightSquared’s billionaire founder Philip Falcone has been appointed to the company’s board of directors …

LightSquared plans to lay off 45% of its staff

February 21st, 2012

LightSquared announced on Tuesday that the company plans to cut its workforce by 45% in an effort to cut costs. “This and other cost savings measures will allow LightSquared to continue to navigate the regulatory process as it works with the appropriate government agencies to find solutions to the GPS interference issue and bring its $14 billion privately …

FCC to block rollout of LightSquared 4G LTE network

February 15th, 2012

LTE startup LightSquared is about to be dealt the final blow in a longstanding battle that has seen its dream of becoming “America’s dumbest pipe” shattered. Controlled by hedge fund manager Philip Falcone, LightSquared had plans to deploy a nationwide 4G LTE network in the United States that would be licensed to wholesalers and utilized by …

Sprint gives LightSquared six more weeks to gain FCC approval

January 31st, 2012

Sprint has granted LightSquared six more weeks to gain approval from the Federal Communications Commission to launch its network. This is the second time the carrier has extended it deadline for LightSquared to prove to the FCC that its network does not interfere with GPS systems. There has been quite a battle going on between …