Today's Hard|Forum Post
Today's Hard|Forum Post

Sunday May 13, 2012

LightSquared Prepares for Bankruptcy Filing

Lightsquared, the company that was developing a nationwide 4G LTE network via satellite, is preparing to file for bankruptcy if ongoing negotiations fail. The plans of the company were thwarted by the FCC when the agency moved to bar the proposed frequencies for causing interference with existing spectrums.

LightSquared's board was tentatively planning to meet Sunday to talk about whether to authorize the bankruptcy filing, which sources said is expected to be filed before Monday evening.