It's been an up and down year for LightSquared, as the company lined up plenty of customers for its wholesale LTE network, but GPS interference issues have put the would-be wireless provider's plans on hold while it waits for FCC approval. According to a report by Reuters, LightSquared's finances may prevent it from exercising the patience needed to wait that long, as it posted a $427 million net loss during the first nine months of 2011. Apparently, the company needs a cash infusion by Q2 of 2012 to pay the hundreds of millions it owes Sprint under their agreement, make its debt payments and continue with its business plans. Naturally, it'll be hard to get the dollars it needs without FCC approval, so LightSquared has filed a petition with the FCC asking the commission to confirm its rights to the spectrum LightSquared licensed over eight years ago. Now, we play the waiting game to see if the FCC full-court press gives LightSquared's LTE network the green light. In the meantime, check out a copy of the petition at the second source below.
LightSquared not looking so good sans FCC approval, files petition to confirm its spectrum rights originally appeared on Engadget on Wed, 21 Dec 2011 01:28:00 EDT. Please see our terms for use of feeds.
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Reuters, LightSquared (PDF) | Email this | CommentsSource: http://www.engadget.com/2011/12/21/lightsquared-not-looking-so-good-sans-fcc-approval-files-petiti/
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