Lightsquared Down For The Count
Media Platforms Design TeamFour billion dollars of investment later, it appears that hope is dimming for LightSquared. This week, the Federal Communications Commissionshot down a plan by the company, backed by billionaire Philip Falcone and the hedge fund Harbinger Capital Partners, to build its own 4G LTE network to sell wholesale and compete with the giant carriers Verizon and AT&T. The issue for LightSquared, as it has always been, is that the firm wanted to operate in a part of the spectrum formerly used by satellite companies, but this chunk lies close to that used by GPS systems....