Wireless startup LightSquared files for bankruptcy

LightSquared, the troubled wireless communications venture backed by hedge-fund manager Philip Falcone, today filed for protection from creditors under Chapter 11 of the Federal Bankruptcy Code. The filing was made in Federal court in lower Manhattan. The filing was not a big surprise. The New York Times notes that bondholders had given LightSquared a deadline ...

LightSquared, the wireless startup backed by hedge fund manager Philip Falcone, on Monday filed for Chapter 11 protection. The company and many affiliates filed for protection from creditors with the U.S. ...

Sprint this morning announced that it has decided to terminate its deal to use spectrum licensed to LightSquared, the increasingly troubled wireless broadband startup backed by investment firm Harbinger Capital. While not surprising ? LightSquared?s prospects have been crushed by concerns that the company?s network would interfere with GPS signals ? the news is being ...

LightSquared, which had been trying for years to build a high-speed wireless broadband network, has filed for Chapter 11 bankruptcy. The company's plans ran afoul of government regulators who said the new network would interfere with GPS signals.» E-Mail This     » Add to Del.icio.us

LightSquared, a broadband wireless company that aimed to connect millions of customers in a far-reaching satellite network, filed for bankruptcy protection on Monday.

(Reuters) - LightSquared, the wireless startup backed by hedge fund manager Philip Falcone, on Monday filed for Chapter 11 protection.