D-Day might be imminent for LightSquared, the proposed national wireless network backed by Philip Falcone's Harbinger Capital Fund, according to Bloomberg Markets magazine, which says the company is in jeopardy of losing critical frequencies. The report says Falcone must raise billions of dollars to meet Federal Communications Commission-imposed deadlines. Also at LightSquared, the company reportedly was ready to announce a plan to boost wireless access for health care providers in rural areas.

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GigaOm, MocoNews.net

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