Saturday, 20 December 2014
Last updated 1 day ago
Mar 1 2012 | 4:00am ET
Harbinger Capital Management's embattled wireless Internet venture already has a man in mind for its vacant CEO's seat, just days after its most recent chief resigned.
LightSquared may hire former Sprint Nextel Chairman Timothy Donahue as it seeks to convince regulators to allow its proposed network to move forward. The Federal Communications Commission last month said it would not approve LightSquared's plans due to interference with global positioning systems, but yesterday agreed to give the company another two weeks to respond to its decision.
Battles over spectrum are nothing new for Donahue who, as CEO of Nextel prior to its merger with Sprint, worked with the FCC to deal with concerns that Nextel's network would interfere with public safety systems. That background is a factor in LightSquared's interest in Donahue, Reuters reports.
In addition, Donahue's former company—he retired in 2006—is LightSquared's most important customer.
Sanjiv Ahuja, LightSquared's first CEO, stepped down on Tuesday, although he remains the company's chairman.
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.