Showdown Looms Over LightSquared Wireless Venture

April 4, 2013 at 2:45 pm PT

A hedge fund with ties to satellite mogul Charlie Ergen is headed for a bankruptcy-court showdown with Wall Street financier Philip Falcone over the fate of his LightSquared Inc. wireless venture, opening up yet another front in the battle for ownership of the airwaves needed to launch future mobile networks.

Sound Point Capital Management LP, a small hedge fund run by one of Mr. Ergen’s former bankers, has been buying up LightSquared debt and now holds more than $600 million of the wireless company’s roughly $1.7 billion bank loan, said people familiar with the trades.

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Tagged with: Charlie Ergen, Lightsquared, mobile networks, Philip Falcone, Sound Point Capital Management, wireless

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