Thu, Feb 02, 2012
Sprint Nextel Has Given The Company Another Six Week
Extension
LightSquared has until mid-March to resolve its issues with the
FCC over its proposed 4G broadband network under an extension of
its deal with Sprint Nextel. The move comes after a 30 day
extension was granted to the company at the end of 2011. Approval
of the service from the FCC is a condition of a 15 year agreement
between the wireless provider and the start up broadband company.
Under the agreement, the two would share spectrum, as well as
network construction and equipment costs.
The Wall Street Journal reports that the FCC is
accepting public comment on LightSquared's case that legacy GPS
devices are not entitled to protection from interference because
they do not meet government manufacturing standards. Many
independent studies have shown that LightSquared's transmissions
would cause existing GPS receivers to be virtually useless when
near one of LightSquared's terrestrial transmitters. The company
has been harshly criticized by a group of nine government agencies
which all agree that the existing GPS system and LightSquared can
not coexist.
The Sprint deal is important to LightSquared, as it could save
the company some $13 billion in expenses through the end of the
decade, according to the paper.
Meanwhile, as ANN
reported in January, some think the startup
company will run out of money before they can get the system up and
operating. Carl Icahn, who has a history of acquiring interests in
distressed companies he expects to go bankrupt, then seizing
control after they actually file, has reportedly been buying up
LightSquared debt, which sunk to trading at about 40 cents on the
dollar in December after delays in FCC approval of the 4G network
made earlier investors edgy.
But even if LightSquared fails, it won't be the end of the
story. The radio spectrum the company controls will only be back in
play.
More News
From 2023 (YouTube Version): Legacy of a Titan Robert (Bob) Anderson Hoover was a fighter pilot, test pilot, flight instructor, and air show superstar. More so, Bob Hoover was an i>[...]
Get The Latest in Aviation News NOW on Instagram Are you on Instagram yet? It's been around for a few years, quietly picking up traction mostly thanks to everybody's new obsession >[...]
Aero Linx: B-52H Stratofortress The B-52H Stratofortress is a long-range, heavy bomber that can perform a variety of missions. The bomber is capable of flying at high subsonic spee>[...]
Altimeter Setting The barometric pressure reading used to adjust a pressure altimeter for variations in existing atmospheric pressure or to the standard altimeter setting (29.92).>[...]
"Knowing that we play an active part in bettering people's lives is extremely rewarding. My team and I are very thankful for the opportunity to be here and to help in any way we ca>[...]