LightSquared took its first major step to fulfilling its promise of launching a nationwide, LTE-enabled wholesale wireless network announcing it had closed on a $850 million of debt funding from UBS AG. LightSquared said terms of the credit facility will be four years and...
Looking to keep its foot to the floor, LightSquared said it has delivered a notice to satellite communications provider Inmarsat plc (IMASF.PK) triggering “Phase 1” of their agreement that calls for Inmarsat to begin re-banding its L-Band spectrum covering North America. The plan,...
SkyTerra Communications Inc. and Mobile Satellite Ventures L.P. announced Harbinger Capital Partners Funds agreed to provide $500 million of debt financing to fund the former's business plan through the third quarter of 2010.In addition, SkyTerra and MSV said they entered into an accord with...
SkyTerra Communications Inc., Mobile Satellite Ventures L.P. and Inmarsat plc said they reached a major pact to resolve complex technical, regulatory and business issues, a move they believe will better enable each to offer L-band hybrid mobile satellite services in North America. ...
Mobile Satellite Ventures said the Federal Communications Commission waived a requirement that it build a ground-based spare satellite in the event of satellite failure.FCC rules require mobile satellite service licensees, like MSV, to build an on-the-ground spare satellite within one year of the company...
Remember James D. Dondero, the Highland Capital Management L.P. honcho who made Motient Corp. want to forget 2006 and all the fun that comes with nasty proxy fights and lawsuits? Dondero has some folks scratching their heads about why he sold 93,000...
The Federal Communications Commission agreed to reserve a spectrum block for mobile satellite services provider TerreStar Networks Inc., one of a handful of firms trying to avoid past mistakes that nearly wiped out the MSS sector in the previous decade.How does TerreStar expect to...
The Federal Communications Commission agreed to reserve a large chunk of frequencies for TerreStar Networks Inc., a firm that plans to provide wireless service throughout North America using a hybrid satellite-terrestrial cellular network. The news essentially gives TerreStar direct ownership of spectrum covering all...
Sprint Nextel Corp. announced a new senior vice president of strategy as the company tries to turn around and its recent poor performance.Jack Dziak, who has worked for MCI Communications and Accenture, and was most recently senior vice president of services and distribution for...
WASHINGTON-The unsuccessful proxy fight lodged by Highland Capital Management L.P. against Motient Corp. has given way to another nasty skirmish over proposed ownership changes in mobile satellite assets whose value may have been a factor in the exit of a high-rolling satellite TV bidding...
LINCOLNSHIRE, Ill.—Motient Corp. increased its ownership of TerreStar Networks Inc. from 54.3 percent to 55.1 percent, according to an 8-K filing the company made. The transaction involved Motient Ventures Holding Inc., a wholly owned subsidiary of Motient Corp., purchasing more than 700,000 shares of...
Despite initial anticipation that cable and satellite companies would use the advanced wireless services spectrum auction to catapult into the mobile marketplace, the hype doesn't seem to be panning out. However, walking away from the spectrum auction may not be a bad thing, at...
Motient Corp. scored a solid win against Highland Capital Management L.P. and its president, James Dondero, with news that Motient stockholders voted to elect all of the company's six nominees to the board of directors at its annual stockholder's meeting. "Today's vote is a...
LINCOLNSHIRE, Ill.—Motient Corp. announced a solid win against Highland Capital Management L.P. and its president, James Dondero, with news that Motient stockholders voted to elect all of the company’s six nominees to the board of directors at its annual stockholder’s meeting, held today. "We...
WASHINGTON—A Delaware court rejected Highland Capital Management L.P.’s suit to gain access to Motient Corp.’s books and records, but the Dallas-based hedge fund claims it got a major boost from two independent advisors in its proxy fight to have the mobile satellite holding company’s...
The satellite industry as a whole is rebounding, driven by new technologies and applications in the mobile satellite services space, plus consumer applications such as high definition television and satellite radio, according to the Satellite Industry Association, which recently reported revenue figures for 2005....
WASHINGTON-Motient Corp.'s largest shareholder filed a new lawsuit against the wireless company, alleging in a Texas court that a recent transaction involving mobile satellite service ownership changes violates federal securities law. "Highland is certainly willing to consider strategic transactions that directly benefit shareholders, but...
WASHINGTON—Motient Corp.’s largest shareholder filed a new lawsuit against the wireless company, alleging in a Texas court that a recent transaction involving mobile satellite service ownership changes violates federal securities law. "Highland is certainly willing to consider strategic transactions that directly benefit shareholders, but...
WASHINGTON—Highland Capital Management L.P. is contacting stockholders of Motient Corp. to criticize the wireless company’s recent deal with SkyTerra Communications Inc. and its proposal to revamp the board of directors. The move continues an escalating proxy fight by Motient’s largest stockholder in advance of...
WASHINGTON-Motient Corp. and SkyTerra Communications Inc. signed agreements to consolidate ownership and control of mobile satellite service assets, whose value is tied to plans to build and operate next-generation hybrid satellite-terrestrial communications networks covering the United States and Canada. As a result of a...
WASHINGTON—Motient Corp. and SkyTerra Communications Inc. said they signed agreements to consolidate ownership and control of mobile satellite service assets, whose value is tied to plans to build and operate next-generation hybrid satellite-terrestrial communications networks covering the United States and Canada. As a result...
WASHINGTON-Motient Corp. last week said company Chairman Steven Singer and four other directors would not seek re-election at the wireless company's annual meeting, a development that comes at a time when Highland Capital Management L.P.-the largest single investor in Motient-is lodging a proxy fight...
WASHINGTON—Motient Corp. said Chairman Steven Singer and four other directors will not seek re-election at the wireless company’s annual meeting, a development that comes at a time when Highland Capital Management L.P.—the company’s largest single investor—is lodging a proxy fight to completely revamp the...
WASHINGTON-Motient Corp. may be the wireless industry's premier high-wire act. The Lincolnshire, Ill., company is attempting a great leap forward from a business model based on unprofitable land-based wireless data operations to one premised on high-risk-but potentially lucrative-mobile satellite communications that would work with...
