LightSquared Inc. was preparing Sunday to file for bankruptcy protection after negotiations with lenders to avoid a potential debt default faltered, according to a report in the Wall Street Journal. LightSquared is the company that received a conditional waiver from the FCC to build a wireless network on a spectrum that interfered with GPS, a move fought vehemently by general aviation advocacy groups.
About Janice Wood
Janice Wood is editor of General Aviation News.
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