Falcone Meets With FCC On LightSquared

Jan 11 2012 | 4:01pm ET

Harbinger Capital Partners founder Philip Falcone has jumped into the fray, asking the Federal Communications Commission for help to solve the interference problems that have kept the same FCC from approving a Harbinger-backed wireless Internet venture.

Falcone and two representatives of LightSquared met with FCC staffers on Jan. 4, the agency said. The trio explained that "significant investment" has already been made in LightSquared's proposed network—Harbinger is already in for $3 billion, more than half of the hedge fund's total assets and sought the FCC's help to resolve interference concerns.

From the FCC, Edward Lazarus, its chief of staff, special counsel Amy Levine, and Paul de Sa, head of the FCC's Office of Strategic Planning and Policy Analysis, met with the Harbinger-LightSquared delegation.

"We discussed various alternative technical solutions that will effectively and economically allow GPS devices to work as intended, and still allow the deployment of the LightSquared network," LightSquared said.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...