Saturday, 20 December 2014
Last updated 14 hours ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.