WHAT'S HAPPENING: A private-equity firm, Harbinger Capital Partners, is setting up a nationwide wireless broadband network. It will start next year in Las Vegas, Phoenix, Denver and Baltimore.

WHAT IT MEANS FOR CONSUMERS: If the new network, known as LightSquared, gets over some regulatory and financial hurdles, it could provide an alternative to those of the big phone companies — AT&T and Verizon Wireless.

WHY IT DOESN'T HAPPEN MORE OFTEN: Fresh, nationwide wireless spectrum is rare. LightSquared is repurposing spectrum originally intended for satellite telephones, and is still subject to some of the regulatory requirements for a satellite-based network.