January 29, 2015 2:06 PM ET

Diversified Telecommunication Services

Company Overview of LightSquared Inc.

Company Overview

LightSquared Inc., a 4G-LTE open wireless broadband network, provides mobile satellite voice and data services. The company offers satellite voice and data services, including push-to-talk, a real-time voice based service that provides point-to multipoint and point-to-point communication at the push of a button; telephony and data; and GPS tracking services through a network of satellite service providers. It also provides satellite capacity leasing services to enable private network carriers to build and deploy their own satellite communications solutions to operate over the company’s satellite network; and ViaSat L-band managed service that offers broadcast and multicast data transport and...

10802 Parkridge Boulevard

Reston, VA 20191

United States

Founded in 1985

181 Employees

Phone:

703-390-2700

Fax:

703-390-2770

Key Executives for LightSquared Inc.

Chairman and Chief Executive Officer
Chief Financial Officer
Age: 52
Executive Vice President of Regulatory Affairs & Public Policy
General Counsel
Compensation as of Fiscal Year 2014.

LightSquared Inc. Key Developments

Philip Falcone Resigns from LightSquared Board

Philip Falcone, who managed to keep his spot on the board of LightSquared last August, has decided to part with it now. Falcone, as well as four other board members appointed by Falcone's Harbinger Capital Partners, have all resigned their seats as of June 12. The departure of Falcone, who led LightSquared into bankruptcy after its plan to establish a high-speed data network was quashed by the Federal Communications Commission, may signal progress on a plan to reorganize the company.

Dish Network Reportedly Drops Out Of LightSquared Bidding

Dish Network Corp. (NasdaqGS:DISH) has ended its $2.2 billion bid to buy LightSquared Inc., through bankruptcy auction, according to news reports out of bankruptcy court proceedings in New York City. A spokesman for Dish Network declined to comment.

Fortress Reportedly In Talks For Financing To Buy LightSquared

Fortress Investment Group LLC (NYSE:FIG) is in talks with banks for financing to acquire LightSquared Inc. Fortress is in discussions with J.P. Morgan Chase & Co. and Credit Suisse Group AG, to raise nearly $2 billion, persons familiar with the matter said. Fortress is unclear about the cash contribution that is involved to make the deal. The talks came after Centerbridge Partners LP backed out its deal, under which it would pay $3.3 billion for LightSquared. Centerbridge Partners was also supported by Fortress Investment, J.P. Morgan and Harbinger Capital. Fortress is taking the place of Centerbridge as an investor to buy LightSquared, the people said. According to the people concerned, the discussions are not confirmed. All the parties declined to comment.

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