LightSquared
Last-minute Payment to Inmarsat Buys Bankrupt LightSquared More Time
LightSquared made two payments totaling $9.1 million.
Bankrupt LightSquared Resumes Payments to Inmarsat
LightSquared has resumed cash payments to Inmarsat after a two-year hiatus following LightSquared’s filing for Chapter 11 reorganization.
Troubled LightSquared Files for Bankruptcy
LightSquared, whose proposed mobile satellite-terrestrial broadband network was blocked earlier this year by U.S. regulators over GPS interference concerns, filed for Chapter 11 bankruptcy protection May 14.
LightSquared Gets Reprieve from Inmarsat Payments
PARIS — Mobile satellite services provider Inmarsat on April 20 said struggling startup U.S. wireless broadband provider LightSquared made an overdue payment of $56.25 million and that Inmarsat has agreed to permit LightSquared to wave the requirement for further payments until April 2014.
U.S. Lawmakers Seek LightSquared Test Tab
Two Republican members of Congress are asking the U.S. National Telecommunications and Information Administration (NTIA) to determine how much taxpayer money was spent conducting GPS interference tests on the proposed LightSquared satellite-terrestrial broadband network.
LightSquared Deal a Boon to Inmarsat’s Otherwise Flat Business
PARIS — Mobile satellite services operator Inmarsat said Nov. 2 it likely will report zero growth in its core business in 2011 but that cash coming in from a struggling wireless-broadband startup in the United States will nonetheless give the company a record-breaking year in both revenue and profit.
LightSquared Pushes for FCC Action on Wireless Network as Deadline Nears [The Wall Street Journal]
Startup satellite-terrestrial mobile broadband provider LightSquared urged the U.S. Federal Communications Commission (FCC) to rule against critics of the company who say its planned wireless Internet network would interfere with GPS systems, The Wall Street Journal reported Dec. 21.
LightSquared To Lay Off Nearly Half of Employees [Reuters]
Startup mobile broadband provider LightSquared plans to cut 45 percent of its work force — about 150 employees — in a “prudent and necessary cost savings measure to ensure the long-term success of the company,” Reuters reported Feb. 21.
Former Nextel Chief Considered for LightSquared Post [Reuters]
Reuters reports that troubled startup mobile broadband provider LightSquared has set its sights on veteran telecom executive Timothy Donahue as a possible replacement for departing Chief Executive Sanjiv Ahuja.
LightSquared Showed How Not To Do Business in D.C. [The Washington Post]
In a piece headlined “Falcone’s Folly,” The Washington Post looks at investor Philip Falcone’s ambitious LightSquared mobile broadband startup venture, which filed for Chapter 11 bankruptcy protection May 14 after running into a regulatory roadblock.
Expect FCC Caution in LightSquared Aftermath, Analysts Say [The Washington Post]
Analysts say the U.S. Federal Communications Commission (FCC) will be a lot more careful with future decisions on broadband networks in the wake of the LightSquared controversy, The Washington Post reports.
