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Wireless firm Lightsquared seeks bankruptcy
by Staff Writers
Washington (AFP) May 14, 2012


Lightsquared, a firm whose an ambitious high-speed wireless broadband venture was thwarted by US regulators, filed for bankruptcy protection on Monday, documents showed.

LightSquared, which is backed by Philip Falcone, founder and chief executive of Harbinger Capital Partners, planned to use satellite spectrum to build its its fourth-generation, or 4G, wireless broadband network.

But the Federal Communications Commission earlier this year revoked permission for LightSquared to build a 4G-LTE network that the company had said would cover more than 90 percent of the United States by 2015.

The FCC cited research done by the National Telecommunications and Information Administration (NTIA), the agency that coordinates spectrum use by the US military and federal government.

Among the creditors in the filing in US Bankruptcy Court in New York were Boeing, with a disputed $7.5 million owed, and Alcatel-Lucent, with $7.3 million.

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SPACEMART
Nigeria to commercialize satellite services: official
Abuja, China (XNA) May 14, 2012
The newly-launched earth observation satellite, NigeriaSat-2, is now set for commercial activities, a top government official has said. Director-general of the National Space Research and Development Agency (NASRDA) Mohammed Seidu disclosed this on Friday in Abuja, adding that Nigeria's first satellite in orbit NigeriaSat-1 is to be decommissioned soon. Seidu, who was giving a rundow ... read more


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