Sprint Grants LightSquared 30-Day Reprieve on FCC Clearance
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.
