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Press Release

Philip Falcone, Chief Executive Officer of Harbinger Capital Partners, Statement on the Federal Communications Commission's Broadband Policies

PR Newswire

NEW YORK, June 17 /PRNewswire/ -- Philip Falcone, Chief Executive Officer of Harbinger Capital Partners (HCP) today released the following statement addressing the Federal Communications Commission's (FCC) broadband policies:  

"I understand that there has been a fair amount of debate about the regulatory framework that the FCC has chosen for broadband Internet services.  I'm not a lawyer and can't get into the fine points of the Communications Act.  But I live my life in the financial world and I have made a substantial investment in what I expect will be a major new broadband wireless network in the United States.  In that respect, I can say that the FCC's broadband policies continue to actively encourage Harbinger's and others' multi-billion dollar investment in broadband innovation. It's a truism that investment goes where it is welcome and this FCC, under Chairman Genachowski's leadership, has gotten it right."

About Harbinger Capital Partners

Harbinger Capital Partners was founded in 2001. Harbinger is led by its Chief Investment Officer, Chief Executive Officer and Senior Managing Director, Philip Falcone, who has over 20 years of investment experience across an array of market cycles. The Harbinger Team is disciplined and value oriented, focusing on alpha generating ideas that are uncorrelated to investment cycles. The firm combines a flexible, innovative approach to uncovering opportunity with a thorough investment process. Each investment undergoes rigorous fundamental research, extensive vetting, and seeks an identifiable catalyst for value realization. Harbinger regards risk monitoring as a critical component of the investment process and actively monitors risk at three levels: portfolio, position and operations. The Harbinger Team offers several strategies which emphasize different opportunities, each based on the same time-tested fundamental investment and due diligence processes.

SOURCE Harbinger Capital Partners