Printed from http://www.electronista.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 Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

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

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Adesso Compagno X Bluetooth keyboard

The shift from typing on physical keyboards to digital versions on smartphones and tablets hasn't been an easy for many consumers. Fro ...

Polk Audio 4 Shot headset

Sound quality and design are two of the biggest areas of focus for manufacturers when coming up with a new gaming headset. Depending o ...

Patriot Supersonic Phoenix USB 3.0 drive

USB thumb drives aren't the end all solutions for data transfer and traveling needs. Sometimes people want something with a little mor ...

Sponsor

toggle

Most Commented

 
toggle

Popular News