Harbinger Wireless Company Wins Crucial Waiver

Jan 27 2011 | 11:59am ET

Harbinger Capital Partners' ambitious satellite broadband venture got a big boost yesterday, winning approval for its plan to offer cellular phone service.

The Federal Communications Commission granted a waiver, requested by LightSquared, in November, to allow the venture to use its current wireless licenses to offer terrestrial services, including cell phone service. FCC rules generally require cell phones using those airwaves to support satellite calls.

The regulator granted the venture in spite of concerns, expressed by the U.S. departments of Commerce, Defense, Homeland Security and Transportation, that LightSquared's plans would present "significant interference concerns." LightSquared has pledged to resolve those.

"This is a promising opportunity to promote mobile broadband," the FCC said. "Having an extra player in the mobile broadband field increases competition and provides customers with more choices."

"LightSquared's network will provide a robust, open-access network that will permit reliable and affordable service to customers across the country in every market segment," the company said.

Harbinger has invested some 40% of its assets in the ambitious plan, which is set to begin trials in four cities this year.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...