WSJ – Hedge fund manager Philip Falcone is facing financial and regulatory deadlines as he moves to raise more funds—in the form of debt—for his plan to build a new high-speed wireless network.
The plan, which would be expensive and risky even for an established telecommunications firm, involves launching two satellites that would communicate with more than 30,000 wireless base stations across the U.S., and then selling high-speed wireless access to U.S. phone companies, cable operators and others that want to offer the service in areas currently without coverage.
