Satellite TV provider will officially pull out of the race for the troubled wireless service provider as early as Thursday, the Wall Street Journal reports.
The Wall Street Journal reported Wednesday that the private equity firm Centerbridge Partners has a tentative deal to buy wireless broadband provider LightSquared out of bankruptcy in a deal worth $3.3 billion.
Dish's future networking portfolio could grow quite quickly based on a new report that the satellite TV provider is going after the bankrupt wireless venture's spectrum.
The FCC gives LightSquared the go-ahead to test a spectrum-sharing plan with a U.S. agency as it fights to build its nationwide wireless broadband network to compete with AT&T and Verizon Wireless.
The move is designed to keep the foundering wireless broadband effort from defaulting on debt, people familiar with the matter tell The Wall Street Journal.
The startup that won't give up recently filed a new proposal to the FCC to revive its plan for building a nationwide 4G LTE network to compete with AT&T and Verizon Wireless.
The drama will continue in the mobile market as fortunes of mobile operators and wireless handset makers are won and lost in the upcoming year. Take a look at CNET's top predictions for the 2014.
Reports have surfaced that Sprint is interested in acquiring T-Mobile, but T-Mobile's recent success with its "Uncarrier" strategy is likely to sway regulators to block any deal that takes T-Mobile out of the game.
After giving LightSquared a mid-March ultimatum to get FCC approval, Sprint now says it may have to return $65 million to the wireless venture.
Hedge funds want severe restrictions on the wireless satellite company's proposed use of $190 million.