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Harbinger-Backed LightSquared Plans To Not Cause 'Devastating' GPS Interference Moving Forward

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Not letting Phil Falcone's LightSquared proceed using its authorized spectrum “would doom an innovative American start-up company,” LightSquared said in its FCC filing. “The commercial GPS device industry wants the commission to shut down an unprecedented effort to establish a nationwide wireless broadband network.” LightSquared’s plan to limit its initial operation to its airwaves furthest from GPS uses would pose no risk to more than 99 percent of GPS users, and the company is offering to underwrite “a workable solution for the small number” of GPS devices “that may be at risk,” the company said in its filing...“This issue will be resolved by good data, smart engineers and good-faith problem-solving dialog,” Sanjiv Ahuja, the company’s chief executive officer, said in a news release. [Bloomberg]

Related: Harbinger Capital Will Pay Redemptions…In Illiquid LightSquared Equity