LightSquared CEO Pledges Network Completion By 2015

Jun 13 2011 | 12:17pm ET

Despite its growing difficulties, Harbinger Capital Management's wireless venture will complete its 4G network within four years, its CEO said Friday.

Sanjiv Ahuja told Bloomberg Television that LightSquared would serve 260 mobile devices by the end of 2014, employing some 40,000 terrestrial towers to offer its services over satellite airwaves. That would be 12 to 18 months ahead of the schedule mandated by the Federal Communications Commission, which has granted LightSquared a crucial waiver.

Ahuja's comments come as criticism of LightSquared grows louder, with new tests showing that its network adversely affects global positioning systems. The CEO said that "wonderful engineers in this country will be able to figure out a way so that GPS community, GPS devices, live within the spectrum that has been allocated to us, while we can build our products and provide service to our customers within the spectrum that has been allocated to us."

Ahuja also confirmed that LightSquared is in talks with Sprint Nextel, but that no agreement has been reached.

"We are also working in a deeper relationship with some of the operators," he said.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of