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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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik