Wireless venture LightSquared Inc., emerging from bankruptcy, asked U.S. regulators to clear the way for its renewed quest to set up a mobile broadband service covering the U.S., Bloomberg News reported yesterday. Regulators should transfer airwaves licenses to the entity to be known as New LightSquared, a company subsidiary said in an April 6 filing posted yesterday on the website of the Federal Communications Commission. LightSquared last month won U.S. court permission to exit bankruptcy protection, where it has been stalled since 2012 when regulators said its wireless broadband service would interfere with GPS global-positioning navigation technology. The new company will have $1.25 billion in operating funds to help “make full use of its spectrum to provide existing and innovative services,” according to the FCC filing.
