Ina Fried

Recent Posts by Ina Fried

Next Chapter in LightSquared Saga Could Be Chapter 11

After failing in its bid to launch a wholesale wireless network, LightSquared may be headed for a bankruptcy filing.

Chief backer Phil Falcone acknowledged the possibility in several interviews on Tuesday, including an email to The Wall Street Journal.

“Spectrum value does not decrease in bankruptcy,” he said in the email. Falcone earlier mentioned the possibility of a bankruptcy filing to Reuters.

LightSquared has spent billions to try to build a 4G wireless network that it could lease out to others. However, regulators revoked their tentative approval for the plans amid concerns that there would be unavoidable interference with existing GPS devices.

The company had signed several deals ahead of the regulatory move, including a pact with Sprint that has since been terminated.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work