LightSquared Inc., the wireless-network company backed by billionaire Philip Falcone, received a second weeklong extension from creditors to delay a potential bankruptcy, Bloomberg News reported on Friday. The move gives LightSquared more time to negotiate before having to revisit a waiver that is keeping its debt from going into default. Before the original April 30 deadline, Falcone conditionally agreed to a request by creditors that he step down from the Reston, Va.-based company's board and executive committee.
