- VIRAL VIDEOS: Miracle On 6 TrainPosted 20 hours ago
- Amazing Images: Hubble Space Telescope Marks 25th Anniversary [PHOTOS]Posted 20 hours ago
- NASCAR Takes A Spin Around The White HousePosted 20 hours ago
- AFMW: David Ensor, Head of the Voice of AmericaPosted 2 weeks ago
- VIRAL VIDEOS: Watch Ryan Gosling Dancing As A Kid!Posted 1 month ago
- Jeb Bush To “Actively Explore The Possibility Of Running For President”Posted 4 months ago
- Insurance Industry Giving Affordable Care Act Customers More Time To Pay PremiumsPosted 4 months ago
- Boehner Responds To President Obama’s Immigration Plan [VIDEO]Posted 5 months ago
- AFMW: Comedian Sebastian ManiscalcoPosted 5 months ago
- FOX in the Fast Lane: Kicking Off The ChasePosted 7 months ago
FOX on Tech: LightSquared Files For Bankruptcy
Their plan was big: create a nationwide wireless 4G LTE network, a wholesale signal that could be sold to regional wireless carriers to increase competition in the market and speed the development of mobile broadband in the United States. But LightSquared ran into problems over the system’s close proximity to GPS signals used by planes and personal devices.
FOX News Radio’s Lisa Brady reports LightSquared has now filed for bankruptcy:
Their big dreams ran into technical difficulties, but LightSquared remains determined to create an independent wireless broadband network in the U.S. The CEO, saying Chapter 11 is aimed at “breathing room,” while they try to iron out the regulatory issues.
The bankruptcy filing comes just months after Federal regulators blocked the plan over the network’s possible interference with GPS signals. Virginia-based LightSquared, listing more than $1 billion each in assets and liabilities.
Lisa Brady, FOX News Radio.