toggle

AAPL Stock: 122.37 ( -0.62 )

Printed from http://www.macnn.com

LightSquared establishes network deal with Sprint

updated 06:35 pm EDT, Fri June 17, 2011

Companies to share cost of network expansion

LightSquared, a wireless provider backed by Harbinger Capital, has reportedly signed a deal with Sprint, outlining terms for cost sharing as the companies collaborate to launch and expand a 4G LTE network in the US. Recent rumors suggest the deal may be worth a total of $20 billion and span 15 years, during which time Sprint will be able to take advantage of LightSquared's wireless broadband service.

"LightSquared and Sprint will jointly develop, deploy and operate LightSquared's 4G LTE network," Harbinger co-founder Philip Falcone told investors in a letter, which was posted by Bloomberg. "Sprint will become a significant customer of LightSquared's 4G LTE network."

The recent rumors suggested LightSquared will pay Sprint approximately $2 billion each year in the beginning of the deal, however in later years the compensation will vary based on subscriber numbers.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

HP 14-x030nr 14-inch Chromebook

If you're like us, chances are you've come to realize that you need the ability to access the Internet on the go. Also, you've prob ...

15-inch MacBook Pro with Force Touch

Apple's 15-inch Retina MacBook Pro continues to be a popular notebook with professional users and prosumers looking for the ultimate ...

Typo keyboard for iPad

Following numerous legal shenanigans between Typo -- a company founded in part by Ryan Seacrest -- and the clear object of his physica ...

toggle

Most Commented