New wireless broadband network to launch next year

NEW YORK -- U.S. consumers and businesses are going to get more options in wireless service starting next year, with the launch of a new wireless broadband network that will provide competition to the incumbent phone companies.

Private-equity firm Harbinger Capital Partners on Tuesday revealed details of the launch of its wireless network, LightSquared, which aims to cover 92 percent of the population by 2015.

It's a rare new entrant in the wireless market. LightSquared plans to start providing service in the second half of 2011 in Las Vegas, Phoenix, Denver and Baltimore.