LightSquared Near to Inking Deal with Sprint
Jun 1, 2011, 4:40 PM by Eric M. Zeman
According to unnamed sources cited by Reuters, LightSquared is on the cusp of signing a $2 billion network agreement with Sprint. Under the terms of the proposal, LightSquared would pay Sprint $2 billion per year to rent network access on Sprint's 40,000 cell towers across the U.S., which it would use to run its own network on its own spectrum. Reuters' sources didn't provide details on exactly how this arrangement would work, but indicated the agreement, if signed, would last for eight years. Both LightSquared and Sprint are looking for various ways to fund network improvement projects. Earlier today, Bloomberg said that LightSquared is close to a deal with AT&T.
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