FCC Approves Amendment to LightSquared Proxy

The FCC signed off on an amendment to the proxy agreement that has JPMorgan Chase putting its stake in the former LightSquared into a proxy (see 1512040039). In an order Wednesday in docket 15-126, the agency said it had no objection to an $80,000 per year increase in the proxy agent's annual compensation, to $200,000. The order was signed by the chiefs of the International, Wireless and Wireline bureaus and the Office of Engineering and Technology.