Ergen settles LightSquared dispute

Dish Network (NASDAQ: DISH) chairman Charlie Ergen appears to have settled a long-simmering dispute with hedge fund operator Phil Falcone over the bankrupt wireless networking company LightSquared.

According to papers filed Monday in the U.S. Bankruptcy Court in Manhattan and obtained by Reutersthe two sides made a deal after extending a previously completed mediation session.

Details of the agreement had yet to be announced pending an afternoon hearing in the Manhattan court.

Owned by Falcone's Harbinger Capital Partners, LightSquared went bankrupt in 2012, after the Federal Communications Commissions, fearing interference with GPS devices, revoked its license to operate its spectrum.

Ergen subsequently acquired about $1 billion of LightSquared's senior loan debt, but Harbinger accused him of attempting to surreptitiously take over the company. Ergen and Falcone have since bickered over ownership of the company. 

For more:
- read this Reuters story

Related links:
Dish, Ergen sued over LightSquared ... again
LightSquared strikes new $3B restructuring deal, but Dish's Ergen looms as stumbling block
Analyst: Harbinger's hiring of law firm could indicate plan to sue FCC over LightSquared

Suggested Articles

FierceVideo is putting together an Emerging Leaders feature, and we’d love to consider somebody from your organization.

Comcast and NBCUniversal officially welcomed Peacock into the world this week.

Comcast/NBCUniversal’s upcoming streaming service, Peacock, will have a version that can be accessed for free by all consumers.