Printed from http://www.electronista.com

LightSquared may run out of cash by spring

updated 06:25 pm EST, Mon December 19, 2011

LightSquared 4G said in danger of closing shop

New details have suggested that LightSquared might run out of money by mid-2012. A copy of the 4G provider's financial statement obtained by Reuters showed that it was worried it couldn't stay a "going concern" past the spring without extra finances. LightSquared has lost $427 million so far this year

In a response, a representative said LightSquared had money for the "next several quarters," although it's believed it can only definitively last until the FCC decides whether or not GPS interference issues are enough to stop the network. LightSquared has blamed GPS makers for abusing their frequency access to overstep into LightSquared's own licensed space.

A collapse for LightSquared would have a ripple effect among a large number of small startup carriers hoping to use its LTE access. Sprint also has a multi-billion dollar deal to help manage some of LightSquared's network, and Sharp was basing its mobile revival on having the fledgling 4G network.



By Electronista Staff
toggle

Comments

Login Here

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

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Razer Kraken Pro headset

Gaming headphones are a challenge to get right, for a long list of reasons that are unique to the consumer buying them. Some shoppers ...

Patriot Aero Wireless Mobile Drive

Regardless of how large a tablet you buy, you always want more space. There's always one more movie or another album you'd cram on, if ...

Patriot Fuel+ 6000 and 9000mAh batteries

Mobile device batteries are better than they used to be, but there's always a scenario where users could use more juice. Upgrade manuf ...

Sponsor

toggle

Most Commented

 
toggle

Popular News