Wireless venture LightSquared Inc. is seeking to exit bankruptcy protection with backing from private-equity firm Fortress Investment Group LLC and Melody Capital Advisors LLC.
LightSquared, which has been at the center of a fight for control between hedge fund manager Phil Falcone and Dish Network Corp.’s Charlie Ergen, filed a new plan to exit Chapter 11 proceedings on Tuesday night, with more than $4 billion of debt-and equity backing from Fortress, Melody and existing investors J.P. Morgan Chase & Co. and Mr. Falcone’s Harbinger Capital Partners.
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via AllThingsD » Mobile http://allthingsd.com/20131226/lightsquared-files-bankruptcy-exit-plan-backed-by-fortress-melody/