MSNBC – Hedge fund manager Philip Falcone’s dream of bringing another wireless network to the United States likely came to an end on Monday, when LightSquared Inc, the ailing telecommunications company he bankrolled, filed for bankruptcy protection.
LightSquared and many affiliates, as widely expected, filed for protection from creditors with the U.S. bankruptcy court in Manhattan. Falcone, once one of the hedge fund industry’s most powerful figures, and LightSquared’s creditors failed to reach an agreement.
