FCC To Pull Plug On Harbinger Internet Co.
Feb 15 2012 | 3:00pm ET
The Federal Communications Commission has dealt a potentially fatal blow to Harbinger Capital Management's wireless Internet venture—a serious, if not fatal, blow to the hedge fund itself.
The regulator said it would withdraw the preliminary approval it granted to LightSquared last year after a series of government tests found that LightSquared's network would interfere with global positioning systems.
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