If you thought filing for Chapter 11 bankruptcy was the final chapter in LightSquared's wireless network saga, you'd be wrong. Hedge-fund manager Philip Falcone is back at the FCC's
doorstep with yet another proposal, which he hopes might snatch the
maligned network from the jaws of GPS interference-related troubles. Two
filings placed with the commission apparently outline plans to use its
broadband network in a way that it believes won't interfere with GPS
signals, along with the 5MHz of spectrum that are known not to cause any
issues. Along with the proposed changes, LightSquared is reportedly set
to ask for more time to have exclusive rights to propose a
reorganization plan. If granted, this could finally mean some progress
for the beleaguered project, but with investors worried that money being
spent on this could be better-placed back in their pockets, Falcone
will have everything crossed, while the FCC deliberates the situation.
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