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Investors Show Faith in LightSquared with New Funding

Jul 5, 2011, 7:30 AM by Eric M. Zeman

LightSquared today announced that it has scored a $265 million round of new funding from existing and new investors. The company has previously secured $2.3 billion. The new funds will be used to help build out LightSquared's planned Long Term Evolution network. LightSquared's LTE network faces an uncertain future, as it has been proven to interfere with nearby GPS services. The company has submitted a plan to the Federal Communications Commission that it says will circumvent 99% of the interference issues, but the GPS industry disagrees and wants LightSquared's licenses revoked. LightSquared also continues to sign up new wholesale partners, which will market and sell the LTE broadband services under their own brands. The FCC has yet to make any decisions on how LightSquared should proceed.

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Comments

This forum is closed.

This forum is closed.

Versed

Jul 5, 2011, 7:37 AM

I heard

I heard the deal didn't go though because the investors GPS units went out on their way to Lightsquared Offices and they got lost.

Jayshmay

🤣

Btw, today is my friday, so happy friday!!!

Tofuchong

I have an ancient device in my glovebox that I use.

It's called a Map.

You should get one.

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