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LightSquared Files Bankruptcy-Exit Plan Backed by Fortress, Melody

Wireless venture LightSquared Inc. is seeking to exit bankruptcy protection with backing from private-equity firm Fortress Investment Group LLC and Melody Capital Advisors LLC.

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Centerbridge Reaches Tentative Deal for LightSquared Takeover

Private-equity firm Centerbridge Partners LP reached a tentative deal to buy LightSquared Inc. out of bankruptcy proceedings, said people familiar with the matter, potentially upstaging a bid by Dish Network Corp. to take over the wireless telecommunications firm.

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Legacy Videogame Company Atari Cleared to Exit Bankruptcy

Atari Inc., the company that helped give birth to the modern-day videogame industry with the introduction of now-classic games such as Asteroids and Pong, received court approval of its plan to exit bankruptcy under the control of its French parent Atari S.A.

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Atari’s Bankruptcy Plan Leaves Most Lenders Out of Credits

Atari Inc. was a pioneer of videogames before the $70 billion industry left it behind. Now its creditors are set to meet a similar fate.

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Kodak Emerges From Bankruptcy

Eastman Kodak Co. said Tuesday it has emerged from bankruptcy, completing its two-year transformation to a leaner company focused on commercial imaging.

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Harbinger Capital Sues Deere, Garmin, GPS Industry Over Spectrum Conflicts

Phil Falcone’s Harbinger Capital Partners LLC has filed suit against makers of GPS devices and industry groups, claiming they negotiated in bad faith over spectrum conflicts that drove a wireless company backed by the hedge fund into bankruptcy.

News Byte

Nearly a Billion Dollars Later, Electric Car Startup Better Place Shuts Down

Better Place, a startup that built battery-swapping stations for electric cars, is shutting down, it announced on Sunday. Fortune had reported that this was coming. After raising $850 million and being valued at $2.25 billion, Better Place sold 900 compatible cars in Israel and 400 in Denmark.

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Kodak Files Plan to Exit Bankruptcy Protection

Eastman Kodak Co. has filed a plan to exit Chapter 11 bankruptcy protection that would hand ownership of the company to its bondholders and unsecured creditors.

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Kodak in Deal to Hand Units to U.K. Retirees

Eastman Kodak Co. reached a deal to turn over the camera-film business that helped make it a blue-chip company and other enterprises to U.K. retirees in exchange for wiping out pension obligations, said people familiar with the matter, in a deal that sets the stage for the onetime photography icon to emerge from bankruptcy proceedings later this year.

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PowerWave Technologies Files for Chapter 11

Wireless-equipment maker PowerWave Technologies Inc. filed for Chapter 11 bankruptcy protection Monday, with a $150 million issue of convertible debt topping its list of unpaid, unsecured bills.

Kodak Continues to Whittle Down Workforce

Die, SCO, Die