Sprint May Have to Return $65 Million to LightSquared

February 15, 2012 at 12:42 pm PT

Sprint Nextel Corp. said it would have to return $65 million to Philip Falcone’s LightSquared if the hedge-fund manager’s wireless venture fails to get final Federal Communications Commission approval by a mid-March deadline between the two companies.

LightSquared made the payments to Sprint last year as part of the companies’ 15-year agreement to share network buildout expenses and wireless airwaves. Sprint Chief Executive Dan Hesse said in January that the carrier had put its investment in LightSquared on hold as it worked to resolve concerns its network interferes with global positioning systems.

Read the rest of this post on the original site »

Tagged with: airwaves, FCC, GPS, Greg Bensinger, Lightsquared, spectrum, Sprint, The Wall Street Journal, wireless

comments so far. Add yours.

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Web Sites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other Web sites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Voices is edited by Beth Callaghan.