LightSquared Reaches 15-Year LTE Deal with Sprint
Jun 17, 2011, 4:02 PM by Eric M. Zeman
updated Jun 17, 2011, 4:12 PM
According to a letter obtained by Bloomberg, LightSquared has struck a 15-year deal with Sprint that would have it share network expansion and equipment costs with Sprint, and also provide Long Term Evolution 4G mobile broadband services to Sprint. The information was conveyed to LightSquared's investors in a letter from Phillip Falcone, who is one of the major backers of LightSquared. Bloomberg quotes the letter as reading, "LightSquared and Sprint will jointly develop, deploy and operate LightSquared’s 4G LTE network. Sprint will become a significant customer of LightSquared's 4G LTE network." The deal between the two companies is said to be valued at $20 billion. LightSquared has been under fire of late concerning its planned network's interference with GPS systems. It has to submit a report about the issue to the Federal Communications Commission on July 1. A number of organizations, including the FAA and DoD, say that LightSquared's network, as proposed, won't work.
more info at BusinessWeek / Bloomberg »
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Comments
| Subject | Author | Date |
| Same Script, Different Cast | carmodboy99 |
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| Bad news for clear | MileHigh8710 |
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| one more reason sprint will be number one soon | jaydaproblem |
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