Stay connected:
Submitted: April 30, 2012 - 8:18am
Last updated: April 30, 2012 - 8:27am
Last updated: April 30, 2012 - 8:27am
Source:
Wall Street Journal
Authors:
Greg Bensinger Mike Spector
Location:
LightSquared, 10802 Parkridge Boulevard, Reston, VA, 20191, United States
Apparently, Hedge-fund manager Philip Falcone agreed to step aside eventually as the public face of his LightSquared venture, a concession that may keep the wireless-telecommunications company from defaulting on its debt. Falcone's compromise is expected to prompt LightSquared's lenders to approve a one-week extension on a debt-term violations waiver that expires April 30. If a deal is finalized, Falcone and LightSquared's lenders plan to continue negotiations for a longer extension of somewhere between 18 months and two years.
- Login or register to post comments
- Email this page
Related
- Heat Turned Up on Falcone
- LightSquared Moves Toward Bankruptcy
- Showdown Looms Over LightSquared Wireless Venture
- LightSquared, Failed Wireless Venture, Files Bankruptcy
- Sprint May Have to Return $65 Million to LightSquared
- Lawmakers Target Falcone
- Ergen Said to Offer $2 Billion for LightSquared’s Spectrum
- Falcone's Venture Runs Into Static
- Falcone Accuses AT&T, Verizon Of Blocking LightSquared
- LightSquared Makes Inmarsat Payment to Win Time for Talks
- Investors Seek to Pull $1 Billion From Harbinger Capital Partners
- Icahn Said to Purchase LightSquared Debt in Bet on Collapse
- LightSquared Demise Won’t Doom Wireless Plan, Inmarsat Says
- Sprint May End Deal With LightSquared
- Sprint to End Contract With LightSquared
Location
Javascript is required to view this map.
Ratings
Recommendation:
2
Informative:
0
Accuracy:
0
Login to rate this headline.