Federal Communications Commission FCC 15-164
STATEMENT OF
COMMISSIONER MICHAEL O’RIELLY
Re: Applications of LightSquared Subsidiary LLC, Debtor-in-Possession, and LightSquared 
Subsidiary LLC For Consent to Assign and Transfer Licenses and Other Authorizations and 
Request for Declaratory Ruling on Foreign Ownership, IB Docket No. 15-126.
At the outset, it should be noted that I maintain a small investment in JPMorgan Chase & Co.  
This was fully disclosed during my confirmation process and has been reported thereafter in annual 
financial filings.  After being alerted to JPMorgan Chase’s involvement by my personal staff, I sought out 
the opinion of the ethics experts within the Commission’s Office of General Counsel to inquire about any 
potential conflict of interest concerns.  Upon review, it was determined that my holdings fall far below the 
threshold to trigger any such issues.  Only after this matter was resolved did I participate in this 
proceeding or entertain any related meetings.
In terms of substance, the transfer of licenses from old LightSquared to the new entity allows for 
the company to exit bankruptcy proceedings and offer services to the American people.  The item appears 
to properly handle pending non-communications-related legal actions by walling off those involved from 
LightSquared’s decision-making process until the particular issues are fully resolved.  Further, the foreign 
ownership review seems consistent with past practices.
As the new LightSquared moves forward, it should be clear that I have no intent to revisit the 
process circus that encircled the previous version of LightSquared.  In particular, I will not be party to any 
effort to undermine any legitimate protections afforded to the Global Positioning System and its 
commercial users.