Latest in 4g

Image credit:

LightSquared officially files for Chapter 11 bankruptcy

Darren Murph
May 14, 2012
Share
Tweet
Share

Sponsored Links

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 put together an agreement that would ensure 15 years of blissful LTE enjoyment together, Philip Falcone's baby looks weaker than ever. With the Sprint tie-up now void, and over $1.6 billion in debt, there's probably not too many places for LS to turn. The primary hurdle -- one it never could seem to overcome -- was the FCC's outright refusal to believe any of the company's mitigation proposals in relation to GPS interference issues. Despite "profoundly disagreeing" and raising all sorts of chaos in an effort to get its way, LightSquared never did manage to convince the powers that mattered. Where it turns from here is anyone's guess, but it won't be a quiet fall from grace, we're surmising.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share

Popular on Engadget

T-Mobile’s TVision is a cable-cutting package for its mobile customers

T-Mobile’s TVision is a cable-cutting package for its mobile customers

View
Windows 10 update removes Flash and prevents it from being reinstalled

Windows 10 update removes Flash and prevents it from being reinstalled

View
Starlink testers will pay $99 per month for SpaceX's satellite internet

Starlink testers will pay $99 per month for SpaceX's satellite internet

View
Sony is still selling lots of games ahead of the PS5's launch

Sony is still selling lots of games ahead of the PS5's launch

View
Logitech's new $50 ergonomic trackball mouse has Bluetooth LE support

Logitech's new $50 ergonomic trackball mouse has Bluetooth LE support

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr