Sprint to Stop Sending LightSquared Money for Now
Sprint will not give LightSquared any more cash until the company's problems with the Federal Communications Commission are resolved, said Sprint CEO Dan Hesse today at an investor conference. LightSquared hopes to launch a Long Term Evolution 4G mobile broadband network across much of the U.S. using L-band satellite spectrum. It is still awaiting government approval, and tests have shown that its network interferes with nearby GPS signals. The company demanded the FCC allow it to commence operations, but the FCC has yet to make a decision. "The companies have agreed to realigning our deployment timeline to coincide with potential FCC actions," said spokesperson Scott Sloat in an e-mail sent to Bloomberg. Sprint has given LightSquared until the end of January to score FCC approval before it backs out of the network-leasing deal the companies struck in 2011.
|Slightyly off topic... but is Lightsquared getting screwed here?||planethulk||
|It's always good--||muchdrama||
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