Poor old Sprint Nextel. The firm is facing a “very legitimate risk” of bankruptcy in the next four years, according to one (attention seeking?) financial analyst.
Lenders to ailing US wholesale player LightSquared have voiced their opposition to the CEO Philip Falcone’s plans to resurrect the business. The firm filed for Chapter 11 bankruptcy protection in May this year, but now its lenders have told a US bankruptcy court that Falcone’s plans are “too risky”.
US wholesale player LightSquared has filed for Chapter 11 bankruptcy protection amid efforts to resolve regulatory issues that have prevented it from launching its satellite service.
US carrier Sprint has officially broken up with troubled LTE wholesale opportunist LightSquared, ending the spectrum hosting agreement signed in June 2011. As part of the break up, Sprint has repaid $65m to LightSquared, for expected costs that have not been incurred.
LightSquared, the embattled LTE 4G US player, has hired well-known solicitor Theodore Olsen in a final bid to save its seemingly doomed terrestrial LTE network project. Olsen’s main claim to fame was helping George W. Bush claim a victory in the 2000 US election in the Bush v. Gore Supreme Court case.
US carrier Lightsquared’s fortunes are going from bad to worse, as satellite firm Inmarsat has told the London Stock Exchange that it has not received a payment of $56.25m from the company.
The US Federal Communications Commission (FCC) has said that it plans to indefinitely suspend a conditional waiver that would permit LightSquared to build a ground-based LTE network using satellite spectrum. The decision was made following a recommendation from the National Telecommunications and Information Administration (NTIA), which said that it performed a “substantial amount of testing and analysis” regarding LightSquare’s plans and the impact they would have on GPS services.
LightSquared, the aspiring US LTE carrier, has received a hammer blow to its hopes of shaking up the US market with a wholesale LTE network from a damning report released last week by the executive committee for Space-based Positioning Navigation & Timing (PNT).
Aspiring US wholesale player LightSquared, which is planning a nationwide wireless broadband offering over satellite and LTE networks, has released details of a technical solution that it says will put an end to interference between its network and GPS devices.
When US carrier LightSquared’s LTE network goes live it will represent the biggest shake-up of the US wireless operator market since the break-up of AT&T. Ahead of his speaker slot at the Broadband World Forum in September in Paris, we talk to Martin Harriman, EVP of LightSquared.
Operators are renewing their enthusiasm for location as over the top players build their own means of accessing positional information on consumers. Marketing and advertising will be key and success will be derived from expertise in context, content and customer relationship.
Philip Falcone, manager of hedge fund Harbinger Investments, which funds US wholesale LTE/satellite player LightSquared, has hit back at the US interest group the Coalition to Save our GPS, claiming that interference problems are the fault of incumbent GPS users, and not of LightSquared. In an interview with US broadcaster CNBC, Falcone said that existing GPS users did not apply the “proper filtering” to their devices and that “we’re not interfering with them; they’re interfering with us.”
This deal makes sense for both Sprint and LightSquared because they both need strategic partners to survive as the US mobile market consolidates and transitions to 4G.
What with the internet destroying our brains, the Baby Boomers and Gen X and Yers of this world can only expect more ‘senior moments’ to befall them and for more stuff to randomly go missing. There’s been a lot of stuff going missing in the wireless world this week too.
US wholesale player Lightsquared has confirmed that it has entered into a partnership with Sprint Nextel that will see Sprint deploy an LTE network on Lightsquared’s behalf. The deal has put a serious dent in the US ambitions of Nokia Siemens Networks, which was named as Lightsquared’s network deployment partner last year.
As CTO of US carrier Sprint Nextel, Stephen Bye presides over one of the most complex combinations of network technologies within the mobile industry. Bye talks to Telecoms.com about his preparations for the next phase of the carrier’s technological evolution and the long-awaited, yet still not officially announced, move to LTE.
LightSquared has announced that it has raised an additional $265m in additional funding, bringing the company’s total investment haul for the past year to more than $2.3bn. According to LightSquared, the capital was drawn from both existing as well as new investors; beyond that, it’s not naming names. The deal comes amid a period of turbulence for LIghtSquared, which is facing opposition from the GPS establishment over interference issues.
Embattled LTE startup LightSquared’s woes appear not to have put off prospective customers, as the company announced yesterday that VoIP provider netTalk had joined Sprint, Best Buy and Leap Wireless as a wholesale customer of the telco.
Whichever way you cut it, it’s not been a good week for US LTE-satellite mash-up LightSquared. The firm has been under pressure over the likelihood that the satellite element of its game will interfere with GPS systems. Early in the week LightSquared announced its intention to switch spectrum bands so that its operations would be “further away from the GPS frequencies, greatly reducing the risk for interference.”
Greenfield operator LightSquared’s woes look set to continue, with news that a US House of Representative’s committee has passed a bill blocking the Federal Communications Commission (FCC) from granting the would-be wholesaler a waiver it needs to move forward.