Has Another Wheel Fallen Off LightSquared's Wagon?
Today, The Wall Street Journal reports that Sprint, who last year had signed a 15-year agreement with LightSquared to help that company build its proposed 4G LTE network, has given LightSquared a 30-day extension to get FCC approval.
The original agreement had a December 31, 2011 deadline for FCC approval of LightSquared's plan. In return, as reported, Sprint would receive priority access to LightSquared's spectrum and services.
NEW YORK -- Sprint Nextel Corp. said Sunday it gave billionaire Philip Falcone's LightSquared Inc. wireless venture a 30-day extension to a Dec. 31 deadline to get Federal Communications Commission clearance to operate its network.
Getting FCC clearance is a condition of a 15-year fourth-generation spectrum-and-equipment-sharing accord between the two companies.
Professional Land Surveyor Source: The Wall Street Journal
Will LightSquared's Lobbying, Money and Political Influence Win the Day
This latest development places additional burdens on billionaire Philip Falcone's LightSquared Inc. wireless venture, beyond the already conclusive facts that the LightSquared plan, as proposed, interferes with GPS devices (particularly those used by land surveyors). Is this one more sign that another wheel has fallen off the LightSquared wagon?
It certainly sounds like the reality of LightSquared not receiving FCC approval is setting in - maybe?. What I do know is that this month should prove newsworthy on this front.
It will be interesting to see if LightSquared's lobbying, money and political influence win the day.