LightSquared Reaches 15-Year LTE Deal with Sprint
Article Comments 6
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.
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Same Script, Different Cast
Bad news for clear
Next 365 days should be interesting.
one more reason sprint will be number one soon
getting the iphne 4 sept
unlim plan 69.99
the best droids in the markets period!!!
best 4g you like it or not
sprint its heading to the top!!!
feel bad for verizon lol