Ligado to Pay Inmarsat $568 Million to End Spat Over Radio Waves
Ligado Networks agreed to pay its business partner $568 million to resolve a contract dispute that had threatened the satellite operator's plan to cut debt and reorganize in bankruptcy court.
The agreement with Inmarsat Global Limited clears one of the two main hurdles to Ligado's plan to restructure its $8.5 billion in debt. Inmarsat had claimed that its rights were being threatened by Ligado's proposed wireless spectrum deal with AST SpaceMobile Inc. The new deal that both companies have agreed to will now come before a bankruptcy judge in Wilmington, Delaware, for approval later this month, Ligado said in an emailed statement.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBS News
22 minutes ago
- CBS News
Negotiations between Colorado grocery workers, Safeway fail to reach resolution
Negotiations between Colorado union grocery store workers and Safeway failed to reach a resolution this week after talks broke down over pay and benefits. According to the UFCW Local 7, union president Kim Cordova and a member-led bargaining committee met with representatives of Safeway and Albertsons on Friday and Saturday, but failed to reach an agreement. "Although we made significant conceptual progress on certain items, the company refused to sign a separate tentative agreement on items, including health care," the union said in a Facebook post. "Instead, Safeway/Albertsons is insisting on wages far below competitors in the market here in Colorado and below agreements that have been reached with other local unions in the current bargaining cycle." Workers at Fort Morgan Safeway joined the growing list of employees across the state on strike this week, demanding better pay, benefits and working conditions. Elk rests with picketers at Estes Park Safeway CBS In a humourous turn of events Friday, an elk joined picketers while looking for a place to rest in the shade. The elk cow was seen hanging out with picketers at the Estes Park store under the shade of a nearby tree. The local 7 shared photos on Facebook and quipped, "A special visitor stopped by the Estes Park line today, proof that everyone loves a good picket!"
Bloomberg
24 minutes ago
- Bloomberg
Trump Tax Bill Advances in Senate After Vance Pressures Holdouts
By and Steven T. Dennis Updated on Save President Donald Trump's $4.5 trillion tax cut bill prevailed in a crucial Senate test vote after hours of negotiations between Vice President JD Vance and GOP leaders and Republican holdouts. The 51-49 vote, which was held open for nearly four hours, is a sign that Republican leaders are resolving the infighting over portions of the legislation and moving toward meeting a July 4 deadline the president has set for passage.
CBS News
38 minutes ago
- CBS News
San Francisco's Crane Cove Park playgrounds back on track after nonprofit scandal
After weeks of uncertainty and disappointment, there's finally good news for families in the Dogpatch neighborhood. The long-promised playgrounds and a dog park at Crane Cove Park are finally moving forward, despite a financial scandal that nearly derailed the project. Located at 18th and Illinois Streets near the Chase Center, Crane Cove Park opened in 2020 with plans for two children's play areas and a dedicated dog park. But last month, residents were stunned to learn that most of the private donations meant to fund those amenities had been mismanaged by the San Francisco Parks Alliance, a prominent nonprofit that works closely with the city on public space initiatives. The revelation left many neighbors frustrated and skeptical, including RJ Andrews, a nearby resident and father of two young children. "Initially, it was a reaction of suspicion because it's taken so long to develop," Andrews said. "We were concerned that the fences would go up and nothing would happen." The Parks Alliance had received a $3 million donation from the Baker Street Foundation, a philanthropic group led by board member Nicola Miner and her family, specifically earmarked for the Crane Cove improvements. While nearly $1 million of that was transferred to the Port of San Francisco, the nonprofit admitted that it spent the remainder on its own operating expenses. The disclosure and other concerning financial revelations triggered investigations by both the San Francisco City Attorney and District Attorney. The Parks Alliance has since ceased operations. Despite the setback, the Port of San Francisco has confirmed that construction on the promised amenities is now officially underway. Two playgrounds — one for toddlers, the other for older children — are in progress, along with a fenced dog park. According to Port Communications Director Eric Young, the project is now expected to cost $2.51 million, less than originally projected. With $975,000 already received from the Parks Alliance, the Port plans to fund the remaining $1.54 million internally. "The project is underway," Young said in a written statement. "The Port is reviewing capital budgets to identify where we can reprogram funds to complete the kids and dogs play areas at the park. We are working closely with the City Attorney's Office and city partners to assess our legal and financial options. Staff will return in July to the Port Commission to discuss tradeoffs and next steps as we ensure the park improvements are delivered." Port staff are expected to present the funding source to the commissioners at their July 8 meeting. Miner expressed relief at the update. "I think it's fantastic. I can't believe it. It's amazing that the Port still held strong to its mission," she said. "I am really happy in how San Francisco responded. It was actually better than I expected." For Andrews and his family, including a newborn daughter, the timing couldn't be better. "She'll be maybe one of the first and youngest patrons of the new playgrounds," he said. "Sometimes, dreams do come true." Other residents shared in the optimism. "The fact that there's some more things that are geared toward little ones like Mason is just extremely exciting to us," said local resident Gerry Mudjer, referring to his eight-month-old son. "I think we'll be here a lot more often because of it." "I don't think there's a lot of dog parks in this area generally. There's a beach. They have public access, but [the dogs] don't really have their own specific place to play. So it'll be nice to have a contained area where you know you can let them off leash," added Savannah Schulze, a dog owner. Construction fencing and groundwork are already visible at the site, a promising sign for neighbors who feared the project might be abandoned. The Port hopes to complete the playgrounds and dog park by February 2026, with a possibility of opening as soon as the end of this year.
