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

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of