Sprint Grants LightSquared 30-Day Reprieve on FCC Clearance

January 2, 2012 at 4:15 am PT

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. LightSquared has said the Sprint accord will help it save $13 billion through the end of this decade.

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Tagged with: FCC, Federal Communications Commission, Greg Bensinger, Lightsquared, Philip Falcone, spectrum, Sprint, Sprint Nextel, The Wall Street Journal

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