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Friday, January 06, 2012

LightSquared Update - Sprint Puts LightSquared Deal on Hold - 1/6/12

“The companies have agreed to realigning our deployment timeline to coincide with potential FCC actions,” Scott Sloat, a spokesman for Overland Park, Kansas-based Sprint, said in an e-mail. Until approval is received, “both companies believe it is prudent to pull back on expenses,” he said.

Sprint has been working on buliding the network infrastructure in exchange for payments from LightSquared. Now that deal will cease until approval or perhaps non-approval.

- BusinessWeek

by Adena Schutzberg on 01/06 at 03:00 AM | Comments | Bookmark and Share

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