Centerbridge, Fortress Eye Harbinger's LightSquared

Dec 3 2013 | 1:36pm ET

Some of Harbinger Capital Management founder Philip Falcone's peers may covet the electromagnetic spectrum owned by his wireless Internet venture.

Centerbridge Partners and Fortress Investment Group have show interest in LightSquared, which Falcone put into bankruptcy last year and which is now preparing to auction off its assets. It isn't clear how interested the two firms are; a $2.2 billion bid for the spectrum from Dish Network will be the leading offer at the auction.

The deadline for submitting a bid was last Monday.

Separately, a judge in Nevada last week blocked another effort—the time by Dish shareholders—to keep Dish Chairman Charlie Ergen from participating in Dish's attempt to buy the spectrum. Ergen owns more than $1 billion in LightSquared debt and stands to profit handsomely if the deal is consummated.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

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

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of