Partners will not be buying LightSquared out of bankruptcy, according to The
Wall Street Journal
,’s coverage of a Manhattan court proceeding
Tuesday. LightSquared’s spectrum was set to be auctioned off Dec. 11, with Dish
as the lead bidder with a $2.22 billion offer. The auction was called off in
light of a $3.3 billion offer from Centerbridge Partners, a New York investment
reported. Marci Ryvicker of Wells Fargo said Centerbridge’s exit puts Dish back
into the bidding.
“Essentially it means that Dish has been re-established as the lead bidder for
Lightsquared’s assets, without
having to increase its
offer,” she said in an investor note. “Barring another firm or fund stepping in
to ‘take over’ Centerbridge’s proposal—which we view as highly unlikely—we
would expect the original auction for Lightsquared to take place, beginning
with Dish’s ‘stalking horse’ bid of $2.2 billion.”
LightSquared filed for bankruptcy in May of 2012 after nearly two years of
trying to appease the global positioning system contingent. LightSquared holds
spectrum licenses adjacent to that used for GPS in the band designated for
satellite transmissions. LightSquared applied for and was granted a waiver by the
Federal Communications Commission in 2010 to use the spectrum to create a
wholesale, hybrid satellite-terrestrial wireless broadband network.
It would have been the first of its type in the nation, but test after test
indicated the network would interfere with GPS operations, which are inherent
in everything from in-car navigation systems to guided missile systems.
LightSquared’s signals were not actually bleeding into the GPS band, rather,
GPS devices were not developed with filters capable of rejecting LightSquared
signals. The company, funded by Phil Falcone’s Harbinger Capital, fought
unsuccessfully to rectify the situation.
Ryvicker said the auction likely will now take place on Thursday, Dec. 19.
“We view today’s news as the best possible outcome for Dish as it has regained
its status as the frontrunner to acquire Lightsquared, without having to
increase its bid,” she wrote. “At the end of the day, we think Charlie’s bid
will hold up, adding valuable spectrum to the company’s portfolio.” Charlie
being Ergen, CEO of Dish.
In separate news, Dish announced that it would partner with Sprint to test
wireless broadband in Corpus Christi, Texas.
December 17, 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
is testing the feasibility of sharing spectrum with federal users.
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
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
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.
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
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
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 Alcatel Lucent.
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 network.
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 problems.
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
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.
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.