Report: LightSquared Close to Transferring Ownership of Its Spectrum
The saga of LightSquared continues as the company now moves to transfer control of its spectrum to new owners. LightSquared is close to having U.S. regulators approve a deal that
would see JPMorgan Chase & Co., among others, take over ownership of
its airwaves, according to a Bloomberg report.
FCC Chairman Tom Wheeler has reportedly told regulators they should approved the deal, which is a significant part of LightSquared emerging from bankruptcy.
LightSquared's plans for a hybrid terrestrial, sattelite network was killed by the FCC over fears that such a network would interfere with GPS systems. That decision eventually forced the company into bankruptcy.
A final decision on LightSquared's plans remains on the FCC's docket but there is no timetable for action on the matter.
In March of this year, a judge approved LightSquared's restructuring plans, which led to a $1.4 billion cash payment to Dish CEO Charlie Ergen for a portion of LightSquared's debt he purchased.
The way things have shaken out are a far cry from the company's original vision of launching a wholesale broadband network that would sell data to third-party retailers, MVNOs and handset makers.
Story from: http://www.wirelessweek.com/news/2015/11/report-lightsquared-close-transferring-ownership-its-spectrum
FCC Chairman Tom Wheeler has reportedly told regulators they should approved the deal, which is a significant part of LightSquared emerging from bankruptcy.
LightSquared's plans for a hybrid terrestrial, sattelite network was killed by the FCC over fears that such a network would interfere with GPS systems. That decision eventually forced the company into bankruptcy.
A final decision on LightSquared's plans remains on the FCC's docket but there is no timetable for action on the matter.
In March of this year, a judge approved LightSquared's restructuring plans, which led to a $1.4 billion cash payment to Dish CEO Charlie Ergen for a portion of LightSquared's debt he purchased.
The way things have shaken out are a far cry from the company's original vision of launching a wholesale broadband network that would sell data to third-party retailers, MVNOs and handset makers.
Story from: http://www.wirelessweek.com/news/2015/11/report-lightsquared-close-transferring-ownership-its-spectrum
No comments:
Post a Comment