LightSquared my be down for the count. While not a Joe Frazier or Larry Holmes style KO, it's looking more and more that the dream of multi-billionare hedge fund leader Phillip Falcone, may be going the way of Rubin "Hurricane" Carter or or worse, Sonny Liston. Yesterday the FCC said "no way" and now the ripple effects are being felt.
But when you weave a tattered web, you also have to worry about who will get caught up in it, and it looks like the possibility of Sprint having to return $65 million in advance money from Falcone's venture is also going to happen.
So what may happen? Anyone's guess, but with AT&T still stinging from their loss of the T-Mobile deal, my first bet is that Falcone is calling Randall Stephenson up and saying "I've got spectrum...wanna make a deal?"
Oh where is Howard Cossell when we need him...I can see Larry King now just wanting to organize that match up.