LightSquared's proposed wholesale LTE network and its announced 15-year partnership with Sprint are both dead in the water after having been met with numerous GPS interference concerns and a failed bid at FCC approval.
Aug 21, 2012
LightSquared appoints new CEO, Chairman of the Board
Troubled network provider LightSquared has appointed Doug Smith as its new CEO and Chairman of the Board, following Philip Falcone who stepped down earlier this year.
Jun 28, 2012
SEC charges LightSquared's Falcone with securities fraud
LightSquared CEO and hedge fund manager Philip Falcone is facing securities fraud charges. He allegedly lent himself $113.2 million from a fund he managed in order to pay his personal taxes.
Jun 8, 2012
LightSquared supporters ask for spectrum swap, lenders propose 90-day lifeline
Five state representatives have asked the FCC to investigate the viability of swapping LightSquared's portion of the L-Band for a section of the DoD's holdings. At the same time, LightSquared's senior lenders met to propose a 90-day life-line at in exchange for liens on the compamy's assests.
May 14, 2012
LightSquared files for bankruptcy
After what feels like an eternity of drama, a drawn-out fight with US regulators, a failed attempt to provide LTE to Sprint, and the planned exit of its CEO, LightSquared has finally bowed to the inevitable and filed for bankruptcy, reports Bloomberg. The move comes just over a month after the company declared that it was "seriously considering" filing, when CEO Philip Falcone said that the move would allow the company to gain more time to deal with its creditors.
Apr 30, 2012
Philip Falcone to step down from LightSquared leadership
Philip Falcone will eventually step down from the leadership of LightSquared, in an attempt to pacify the company's creditors.
Apr 20, 2012
LightSquared pays $56.3 million to Inmarsat, gets two more years to seek approval for LTE network
LightSquared and Inmarsat have settled on a deal that resolves LightSquared's outstanding debt and gives it two years to gain regulatory approval from the FCC on its 4G LTE network.
Apr 5, 2012
LightSquared 'seriously considering' voluntary bankruptcy in wake of failed network plans
Philip Falcone revealed in an interview today that he is considering filing a voluntary bankruptcy for LightSquared, the failed telecom venture whose ambitions to build out a new LTE network were thwarted by the FCC.
Mar 17, 2012
LightSquared won't say die on LTE, demands reversal or spectrum from the FCC
LightSquared is demanding that the FCC reverse its decision or provide the company with new spectrum as it faces the possibility that it won't be able to launch its LTE network.
Mar 16, 2012
Sprint 'exercises its right' to end LightSquared agreement for LTE, $65m returned
Sprint has formally announced today that it'll be ending its agreement with LightSquared for LTE.
Mar 15, 2012
Sprint to end LightSquared deal for 4G LTE on Friday
The Wall Street Journal reports that Sprint will formally end its LTE partnership with LightSquared on Friday.
Mar 7, 2012
Sprint to end LTE network deal with LightSquared by next week, says Bloomberg
A new report from Bloomberg says that Sprint could be ending its deal with LightSquared as early as next week.
Feb 22, 2012
LightSquared defaults on payment to satellite partner, plans to cut 45 percent of its workforce
Things continue to look grim for LightSquared's ambitions to build a new LTE network, with the company defaulting on a payment to a UK-based satellite partner and announcing today that it will lay off almost half of its workers.
Feb 15, 2012
Sprint will owe LightSquared $65m if deal not approved by mid-March
If the FCC doesn't approve the deal between LightSquared and Sprint by mid-March, Sprint will have to return $65 million that LightSquared paid to the carrier last year as part of the proposed 15-year agreement between the two companies
Feb 15, 2012
FCC says GPS stakeholders need to help free up mobile broadband spectrum
The FCC has published a letter officially declining to let LightSquared proceed with its mobile broadband network because there is "no practical way to mitigate potential interference" with GPS. However, the Commission also said that GPS stakeholders needed to work with government agencies to help free up mobile broadband spectrum.
Feb 15, 2012
FCC to reject LightSquared's network application due to GPS interference concerns
LightSquared's attempts to build a new LTE network may be at an end, with the FCC reportedly preparing to revoke the company's application due to interference concerns from the National Telecommunications and Information Administration.
Feb 9, 2012
LightSquared's LTE network would have 'ruinous effects' on aircraft safety, says DOT
The Committee on Transportation and Infrastructure the U.S House of representatives heard today that LightSquared's proposed LTE network would interfere with the safe running of flights in US airspace.
Feb 8, 2012
LightSquared pleads with FCC for stricter GPS standards
LightSquared has filed a letter with the FCC asking the regulator to set standards for GPS devices to prevent interference with its wireless network.
Jan 31, 2012
Sprint gives LightSquared final extension for FCC approval, will end partnership in March without it
LightSquared has received a final six-week extension from Sprint as it seeks FCC approval for its proposed wholesale LTE network that has drawn numerous GPS interference concerns. The agreement between the two will dissolve in mid-March barring any progress.
Jan 30, 2012
The FCC wants your feedback on LightSquared's GPS woes
As a result of a LightSquared inquiry, the Federal Communications Commission has asked for public opinion on whether the government should play a role in protecting against GPS interference.
Jan 14, 2012
LightSquared LTE network interferes with GPS, says US government committee
A government committee has found that the proposed LightSquared LTE network seriously interferes with GPS devices.
Jan 6, 2012
Sprint CEO Dan Hesse on throttling 'unlimited' data and LightSquared LTE investment (update: misquoted)
Dan Hesse has told investors that Sprint does throttle some mobile data, for one percent of users. Hesse also noted that it would be pausing investment in its LTE partner, LightSquared.
Jan 2, 2012
Sprint gives LightSquared another 30 days to seal LTE partnership with FCC approval
LightSquared has been given 30 more days to gain FCC approval on its planned LTE network in order to meet its deadline to enter a partnership with Sprint.
Dec 14, 2011
LightSquared asks for additional testing of proposed LTE network
LightSquared's proposed LTE network has been met with strong opposition from the FCC due to the network's spectrum potentially interference with GPS receivers. The company's now trying to bargain its way to approval through additional testing and by postponing and eliminating a few planned network power boosts.
Dec 11, 2011
LightSquared battles GPS interference claims as it tries to launch LTE network
LightSquared is attempting to launch a new LTE network, to provide 4G service both to carriers like Sprint and to end users. However, the spectrum it has lined up for that network has the potential to interfere with GPS receivers and a draft of a test commissioned by the government has shows that the "great majority" of GPS devices tested experienced interference.
Oct 4, 2011
LightSquared looks to Sharp for its first LTE phones and tablets
Questions about LightSquared's interference with GPS linger on, but Sharp will demo L-band LTE devices next week.
