Philip Falcone’s LightSquared Inc., the bankrupt wireless-spectrum company, said that it won’t hold a planned auction for its One Dot Six assets and is instead “pursuing and negotiating an alternative transaction,” Bloomberg News reported yesterday. The auction, originally scheduled for yesterday, was canceled by a special committee of LightSquared’s board, according to a court filing. LightSquared’s main spectrum assets were to be sold separately and had attracted a $2.2 billion bid from a unit of Charlie Ergen’s Dish Network Corp. U.S. Bank NA and Mast Capital Management LLC, a Boston-based investment adviser, had planned to start the One Dot Six auction with a bid equal to what company owes them.
