NEW YORK —
Dish may back
off of its bid to buy LightSquared’s spectrum, according to reports from Bloomberg
Dish subsidiary L-Band Acquisition Corp. has a $2.2 billion offer on the
table to buy LightSquared’s assets out of bankruptcy. An attorney for Dish told
a federal bankruptcy court judge on Tuesday morning that there was a “technical
issue” with LightSquared’s spectrum that may impair its utility, the reports
Dish became the lead bidder for LightSquared last month when Centerbridge
Partners backed away from their $3.3 billion bid. Centerbridge had saved
LightSquared from going to the auction block on Dec. 11. The investment firm
pulled out about a week later.
LightSquared has been fending off bids in an effort to reorganize and emerge
from bankruptcy. The company filed for Chapter 11 protection in May of 2012,
listing more than $1 billion in debts and assets. The start-up was a brainchild
of Phil Falcone, head of Harbinger Capital, a New York-based hedge fund.
Falcone sunk more at least $3 billion of Harbinger’s $9 billion into
LightSquared, a venture seeking to build a nationwide, wholesale wireless
broadband network on spectrum reserved for satellite operations. The project
hinged entirely on a conditional waiver issued in early 2011 by the Julius
Genachowski-led Federal Communications Commission. The waiver allowed
LightSquared to conduct terrestrial transmissions in the satellite spectrum. The
operation was to be built around some 40,000 land-based transmitters.
The condition of the FCC waiver was the LightSquared’s network would not
interfere with other operations in the satellite band. The much-stronger
terrestrial signals proved too much for adjacent global positioning systems.
The GPS community—from boaters to
surveyors to military generals—rallied to stop LightSquared. The “condition”
could not be satisfied. The FCC moved to withdraw the waiver in February of
2012. LightSquared filed Chapter 11 three months later.
In the aftermath, Falcone was charged with Securities fraud. A settlement
reached last August with the Securities and Exchange Commission barred Falcone
from the securities industry for at least five years, and levied an $18 million
fine on him and Harbinger.
Meanwhile, Dish’s Charlie Ergen was quietly manufacturing a sort of reverse
hostile takeover in which it would own enough of LightSquared’s debt to manage
it to the competition’s advantage, according to a lawsuit brought against Dish
by LightSquared. That suit is set to go to trial Thursday, Forbes
December 17, 2013, LightSquared
Buyer Backs Out
Partners will not be buying LightSquared out of bankruptcy.
2013 — Dish
and Sprint to Test Wireless Broaband
Sprint and Dish Network have announced plans to jointly test
a fixed wireless broadband service in Corpus Christi, Texas.
May 8, 2013
Tests Spectrum Sharing
LightSquared is testing the feasibility of sharing spectrum with federal users.
December 20, 2012
Suspends LightSquared Build-Out Conditions
The Federal Communications Commission is giving LightSquared a break on its
build-out conditions since the company is currently enjoined from using its
spectrum as it intended
September 21, 2012 — McAdams
On: Why LightSquared Still Matters
Writing off LightSquared would be a mistake. The venture is an object
lesson in how spectrum allocation is meaningless without consistent receiver
standards, and how one industry strategically avoided them by coopting adjacent
September 14, 2012 — LightSquared
Waiver Subject of House Hearing
he subcommittee, headed by Rep. Cliff Stearns (R-Fla.), will follow up on a
February request directed at FCC Chairman Julius Genachowski seeking an
explanation for the waiver and the process leading up to it.
May 14, 2012 — LightSquared
Files for Bankruptcy
LightSquared has filed for Chapter 11 bankruptcy in Manhattan, listing more
than $1 billion in debts and in assets.
February, 27, 2012 —Boaters
Gang Up on LightSquared
The boating public is lining up against LightSquared, if comments on the latest
Federal Communications Commission public notice are any indication.
February, 16, 2012 — LightSquared
Comments Due March 1
Comments are due to the FCC March 1 on the Commerce Department’s recommendation
that LightSquared not be allowed to launch a terrestrial network.
February 14, 2012 — LightSquared
Vows to Continue Despite Terrestrial Network Nix
LightSquared is not giving up on its proposed wireless broadband network
despite losing its authority to launch on a terrestrial infrastructure.
January 30, 2012 — FCC
Takes LightSquared Petition to the People
The FCC is turning to the public regarding LightSquared’s request to operate in
its own spectrum and not grant interference protection to global positioning
January 23, 2012 — LightSquared
Submits Alcatel Lucent Tests Results to FCC
LightSquared continues to assert that its proposed wireless broadband
system will not upset global positioning systems, citing test results from
January 18, 2012 — LightSquared
Says GPS Tests ‘Rigged’
LightSquared says government tests of its network were “rigged” by
manufacturers of global positioning systems, and charged the test committee
advisory board with conflict of interest.
December 12, 2011 — LightSquared’s
LightSquared’s troubles are mounting with lawmakers and regulators lining up
against the company’s proposed satellite-terrestrial LTE wireless broadband
October 24, 2011 —
Announces Brightstar as Preferred Supply Chain Services Provider
Brightstar will provide LightSquared’s partners with a comprehensive set of
supply chain services so they can deliver their products to market faster,
October 11, 2011 — LightSquared
to Present at the 2011 Deutsche Bank Securities Leveraged Finance Conference
Michael Montemarano, chief financial officer and Frank Boulben, chief
marketing officer of LightSquared, will speak at the 2011 Deutsche Bank
Securities Leveraged Finance Conference in Scottsdale, Ariz. at 8:35 a.m.
Pacific Time on Thursday, Oct, 13, 2011
October 3, 2011 — Sharp
to Make LightSquared Devices; Wholesale Sign-ups Continued GPS Questions
Sharp has agreed to develop devices that will work on LightSquared’s
proposed wireless broadband network, while wholesale resellers continue to sign
up despite regulator uncertainty.
September 26, 2011 —LightSquared
Signs AirTouch Communications
LightSquared today said it signed a
wholesale agreement with its first device maker, AirTouch Communications. AirTouch,
formerly named “Waxess Holdings,” signed up to offer LightSquared’s planned 4G
wireless service under its own brand.
September 23, 2011 —McAdams
Such delicate fellowship requires a more artful approach. One must execute
a substantial favor for someone who cannot be traced back to oneself, and then
said someone arranges a little something for the beneficiary-in-chief.
Absolutely no gift cards from Target or Trader Joe’s. If you really want to
make that lasting impression, think more along the lines of a swing vote.
September. 21, 2011: LightSquared
Announces GPS Filter Fix
“This interference problem is not a difficult one to solve, once you decide to
solve it. We’ve begun manufacturing preproduction models and expect to have 25
available within two weeks--we are not talking in hypotheticals here.”
September 15, 2011: General Says Fixing Lightsquared
Interference to Military GPS Ops Could Take 10 Years
Gen. William Shelton also told members of the House Armed Services Strategic
Forces subcommittee the filters most recently proposed by LightSquared to
eliminate interference with high-precision GPS receivers could cause other
September 9, 2011: FCC
Delays LightSquared Launch
The commission gave LightSquared approval last January for the Ancillary
Terrestrial Component of its operation on the condition that it not interfere
with GPS. That condition remains intact, the FCC said, and noninterference has
yet to be established to the satisfaction of the far-flung GPS community
September 12, 2011 —LightSquared
Signs on VoX Communications
LightSquared has signed a multi-year wholesale agreement with VoX
Communications, a provider of wholesale and retail Voice over Internet Protocol
services for consumers and businesses. This is LightSquared’s 14th partner
September 6, 2011 —LightSquared
Signs Two More Wholesale Customers
LightSquared has signed on two
more wholesale customers.
August 23, 2011 —LightSquared
Signs InterGlobe as a Wholesale Customer
ightSquared has signed another wholesale customer, InterGlobe
Communications, a business integrated service provider primarily serving the
New York, New Jersey and Pennsylvania region. The two entered into a multi-year
August 18, 2011 —Local
Lawmakers Line Up for LightSquared
LightSquared may be in the crosshairs of the GPS industry, but local
lawmakers eager for broadband competition are calling for cooler heads.
August 9, 2011 — FCC
LightSquared Briefing Intended to Calm GPS Concerns
The commission granted LightSquared mobile satellite service licenses in L-Band
spectrum in January, along with a conditional waiver for terrestrial use.
August 8, 2011 — LightSquared
Signs 9th Wholesale User With ClearTalk Agreement
LightSquared has signed yet another wholesale deal, this one with ClearTalk
Wireless, a provider of flat-rate wireless phone services in the
Southwest and West. The two entered into a 4G bilateral roaming agreement.
August 4, 2011 — LightSquared
and PowerNet Global Sign Wholesale Agreement
Under this agreement, PowerNet Global will become a wholesale customer on
LightSquared’s 4G-LTE network and will develop its own branded voice and
high-speed mobile data services for its business and residential customers.
August 3, 2011 — LightSquared
Continues Generating Commission Controversy
LightSquared is proceeding as planned even as its proposed network
continues generating dispute. - See more at:
July 28, 2011
Sprint Cut $9 Billion, 15-Year Shared-Services Deal
LightSquared and Sprint Nextel today announced a long-awaited shared
services agreement. The two have entered into a 15-year deal that includes
spectrum hosting and network services, 4G wholesale, and 3G roaming.
July 11, 2011 — NTIA
Releases LightSquared GPS Interference Study
A federal report documenting GPS interference by the proposed LightSquared
satellite-terrestrial broadband network has been released. The National
Telecommunications and Information Administration recommended that the project
remain on hold until the problem is solved.
July 5, 2011 —LightSquared
Secures $265 Million While Awaiting Its Fate
LightSquared announced today that it has raised $265 million. The capital
was drawn from both existing investors as well as new investors whom the
company did not identify.
June 30, 2011 — LightSquared
Blasts GPS Receiver Quality
LightSquared today spit nails back at the global positioning system
community for building shoddy receivers.