Engadget - With GPS interference issues now resolved, LightSquared's going back to the farm to reassure rural America it means no harm. The wholesale-only 4G LTE service that already signed up a plethora of partners is turning to Sen. Byron Dorgan and Reps. George Nethercutt and Charlie Stenholm to oversee its newly-created Empower Rural America Initiative.
Electronista - LightSquarted chief Philip Falcone is said to be stepping down from his position in order to buy time for his hedge-fund Harbinger Capital’s ambitious satellite-powered 4G LTE network. The concession could be enough to avert the likelihood that LightSquared will default on its debts, reports The Wall Street Journal. If supported, LightSquared’s lenders will agree to a one extension of its $1.6 billion in loans that expire on Monday morning.
Bloomberg - Sprint Nextel Corp. (S) plans to end a network-sharing agreement with billionaire Philip Falcone’s LightSquared Inc. (SKYT) wireless venture as early as next week, according to two people familiar with the matter.
Nothing puts a pep in our step like streaming a little LMFAO radio on our smartphone and busting out a move or two. Until, of course, we see the astronomical data charges from our personal dance party at the end of the month.
