If the Federal Communications Commission suspending LightSquared's initial approval waiver yesterday weren't enough, the fledgling wireless network was dealt another blow today. Its deal with Sprint Nextel may fizzle.
Last July, in a 15-year arrangement to push 4G, LightSquared partnered with Sprint in a network-sharing deal and agreed to pay $9 billion in cash and $4.5 billion in credits for LTE access and satellite equipment. In exchange, Sprint agreed to host LightSquared's spectrum, provide network services, and give LightSquared roaming access to Sprint's 3G network.
LightSquared said yesterday that it "remains committed to finding a resolution with the federal government and the GPS industry to resolve all remaining concerns."
The FCC's decision is open to public comment and can be appealed.