LightSquared Emergence From Bankruptcy Gets Team Telecom Approval
The Justice Department signed off on LightSquared's plan to emerge from Chapter 11 bankruptcy. In a filing posted Friday in FCC docket 15-126, DOJ said it had no objections to LightSquared's request for the commission to transfer licenses to its…
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post-reorganization entity. DOJ in June requested any FCC approval of reassignment of those licenses be contingent on the standard review of the transaction for any national security, law enforcement and public safety issues. In a statement Friday, LightSquared said the approval "moves the process forward another step, and we’re glad to see the ... review come to a successful conclusion. With no opposition to the application, the Commission now has what it needs to make a decision on change of control. Doing so would result in clear public interest benefits, including enabling significant investment in our nation’s next-generation broadband infrastructure.” According to the DOJ filing, LightSquared agrees to a number of conditions, such as domestic communications will be routed through the satellite company's U.S. point of presence "so that pursuant to lawful U.S. process, electronic surveillance can be conducted." Justice said that the satellite firm agreed that any data the company stores won't be kept in a way subject to foreign laws requiring mandatory destruction and stored inside the U.S. unless for "bona fide commercial reasons."