xcharles718 Posted June 14, 2012 Share Posted June 14, 2012 I guess they're still working on attempting that DoD spectrum swap. From Daily Wireless http://www.dailywire...dditional-rope/ ...LightSquared has reportedly reached a $190 million agreement with its creditors that will let it continue operations until September 2013, Bloomberg reports. At stake was the company’s ability to draw upon $190 million of encumbered cash at LightSquared LP, the main operating subsidiary of the company. LightSquared filed for Chapter 11 bankruptcy in May after LightSquared’s founder, Harbinger Capital Partners CEO Philip Falcone, failed to strike a deal with lenders — holding more than $1 billion in company debt — to keep the company afloat. The deal will allow the company to use as much as $190 million in collateral until the fall of next year while repaying creditors $6.25 million a month. Meanwhile, a group of lawmakers pressed the FCC to review using Department of Defense spectrum for LightSquared. “A spectrum swap is the most resourceful and efficient way to quickly expand broadband access nationwide,” the letter said. The letter was sent by Reps. Jim Moran (D-Va.), Maurice Hinchey (D-N.Y.), Steve Rothman (D-N.J.) Rodney Alexander (R-La.) and Ander Crenshaw (R-Fla.), all members of the House Appropriations Committee... Quote Link to comment Share on other sites More sharing options...
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