Sunday July 21, 2019

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Harbinger’s Falcone Developing Highway in the Sky

NY-based Harbinger Capital Partners’ investment manager Phil Falcone is taking a risk, developing a cheap satellite-based Internet service that can be described as a kind of highway in the sky. According to Forbes, Falcone intends to buy expensive spectrum and put it to work on a 4G network, created from scratch, using satellites and thousands of as yet built transmission towers.

Critics say that Falcone is underfunding his dream and is late in the game.  Falcone counters that he knows how to deploy capital. His company has picked up undervalued and distressed telecom companies, and recently Harbinger raised $3 billion for a Reston VA. telecom company called LightSquared that controls a few satellites and has FCC approval to lease 1.6 GHz spectrum.



> NY’s Harbinger Capital Makes $7 Billion Deal with Nokia