LightSquared Inc., the bankrupt wireless broadband venture, promoted Doug Smith to the job of chief executive officer and said the company would overcome the regulatory impasse that helped push it into default.
Billionaire Philip Falcone’s LightSquared Inc. wireless venture said it will use a different set of airwaves for its service than originally planned to help prevent interference with U.S. global positioning-systems.
Billionaire Philip Falcone ’s LightSquared plans to expand to as many as nine U.S. metro areas next year, challenging Clearwire Corp. ’s lead in offering fourth-generation wireless services, company documents show.
The U.S. Federal Communications Commission vowed to block LightSquared Inc. after the Obama administration found the wireless venture backed by hedge-fund billionaire Philip Falcone would disrupt navigation gear.
Billionaire Philip Falcone’s LightSquared Inc. struck a 15-year deal with Sprint Nextel Corp. to share network expansion costs and equipment in an effort aimed at making both stronger wireless competitors.
LightSquared Inc. almost tripled spending on U.S. lobbying as the telecommunications company backed by billionaire Philip Falcone fought to keep regulators from killing its planned nationwide wireless network.