Can't say it's striking us as any sort of surprise, but the seemingly destined-to-fail LightSquared just might be out of options. After getting a high-five from Sprint and plenty of attention for its initiatives in bringing yet another wireless option to America, those blasted GPS interference issues (or "supposed" issues, depending on who you ask) … [Read more...]
WSJ: LightSquared ‘preparing’ for bankruptcy protection filing, final decision coming tomorrow
May 15, 2012 by
LightSquared officially files for Chapter 11 bankruptcy
May 14, 2012 by
As expected, May 14th is indeed a dark day for LightSquared. The company has just filed paperwork in order to initiate Chapter 11 bankruptcy proceedings in Manhattan's US Bankruptcy Court, effectively killing its dream of providing a high-speed mobile wireless network to upwards of 260 million people. Not quite a year after Sprint and LightSquared … [Read more...]
Carl Icahn unloads his LightSquared debt, creditor talks trudge on
May 9, 2012 by
Carl Icahn is no stranger in this field -- he's been caught tussling with Motorola and bidding Yahoo's board adieu in recent years -- and most recently, he's managed to get caught up in one of the bigger wireless whirlwinds this planet has ever seen. Just months after Icahn swooped in to buy some $ 250 million in company debt at around 40 cents on … [Read more...]
