Source: AINOnline
Just when it seemed that LightSquared and its threat to GPS had finally faded away, following the February withdrawal of its operating licenses by the U.S. Federal Communications Commission (FCC), the company is back again, with new plans and, more surprisingly, a modest degree of FCC support. In addition, LightSquared owner Philip Falcone appears to have mollified the concerns of his investors, who just a few weeks ago were attempting to legally break the remaining several months of reorganization protection the company was granted after declaring bankruptcy in May, to recover the roughly $1.4 billion they have invested in the company.
There are several issues here that have combined to create a propitious intersection of good fortune for Falcone, and one can’t dismiss them all as coincidental. First is the continuing activity within federal government circles to further the national broadband plan (proposed last year) that would re-arrange the current radio spectrum allocations to private and government users to release a quite large number of small blocks of frequencies that, because of their size, have lain unused for many years,...read more
