LightSquared may file for bankruptcy

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Thursday, 05 April 2012

LightSquared may file for bankruptcy

According to The Wall Street Journal Phil Falcone may consider bankruptcy protection for his attempted 4G LightSquared network. Falcone said "bankruptcy is one of the options I am considering" and this is the "best way" for him to maintain control of the company. The 1600Mhz spectrum they hold will not decrease in value if bankruptcy is filed by the company. At this time they have enough cash to carry on throughout the year, but the road to success is going to be difficult after the FCC rejected LightSquared's bid to develop a next gen network.

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