Sunday, 19 April 2015
Last updated 7 hours ago
Feb 1 2012 | 1:18pm ET
Harbinger Capital Partners' wireless Internet venture has won another crucial extension from its most important customer to get its network plans approved by federal regulators.
Sprint Nextel, which has agreed to help build and operate LightSquared's network, has given the company until the middle of March to win Federal Communications Commission approval. The six-week extension is the second Sprint has given the company, following a one-month extension at the end of last year.
Early last month, the two companies said they had agreed to put their $13.5 billion deal on hold until LightSquared wins regulatory approval. The company originally faced a Dec. 31 deadline to get that approval or face losing the Sprint deal.
"Sprint continues to support our business plan to bring wireless broadband," LightSquared said.
Harbinger has poured more than half of its assets into LightSquared, which has run into opposition from global positioning system manufacturers, which say the proposed network would interfere with GPS devices.
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…