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LightSquared in Step Toward Renewal as FCC Asks About Licenses

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U.S. regulators asked for public input yesterday on whether to assign licenses for airwaves held by LightSquared Inc. to the reorganized wireless company now emerging from bankruptcy, Bloomberg News reported yesterday. The Federal Communications Commission asked for comments beginning July 1 and concluding July 20 on LightSquared’s request to assign the licenses to the reorganized entity under a plan approved by a bankruptcy court. The plan would shift control from Harbinger Capital Partners Funds, controlled by Philip Falcone, to JPMorgan Chase & Co., Fortress Investment Group LLC and Jeffrey Aronson and Mark Gallogly, through Centerbridge Partners LP, the FCC said.