Sunday, 29 March 2015
Last updated 1 day ago
Mar 24 2011 | 11:53am ET
LightSquared, the wireless Internet venture on which Harbinger Capital Management's Philip Falcone has staked much of his reputation—and even more of his investors' capital—moved a step closer to success with one deal in the bag and another in the pipeline.
LightSquared CEO Sanjiv Ahuja said yesterday that Best Buy Co. will begin offering LightSquared's upcoming 4G network through its Best Buy Connect wireless service. Best Buy currently offers service from Sprint Nextel and Clearwire Corp.
Best Buy will begin holding trials of the LightSquared network early next year. Under LightSquared's deal with the Federal Communications Commission, struck earlier this year, it must build a network covering 100 million people by next year and 260 million people three years later. Ahuja said the company would likely exceed those targets.
Ahuja also said that LightSquared is in talks with 15 potential customers in several industries. One is Time Warner Cable, Bloomberg News reports, which would use LightSquared's network to offer mobile Internet services to its customers.
Earlier this week, LightSquared announced a deal with pay-as-you-go carrier Leap Wireless International.
Falcone has poured some 40% of Harbinger's total assets into LightSquared.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…