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Sprint owes LS2 a refund if FCC approval falls through.


legion125
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Sprint will have to write a check to LightSquared if the FCC nixes LS's plan for its network. Although not official, its almost a foregone conclusion.

 

http://www.theverge.com/2012/2/15/2800650/sprint-lightsquared-65-million-payback

 

 

Sprint will owe Lightsquared $65m if deal not approved by mid-March

 

 

Lightsquared's plans to build out an LTE network appear to be in danger, but the company stands to regain some cash if the plans fall through. If the FCC doesn't approve the deal by mid-March, Sprint will have to return $65 million that Lightsquared paid to the carrier last year as part of the proposed 15-year agreement to share buildout expenses and wireless spectrum. And with yesterday's news that the FCC will reject the proposal due to longstanding concerns that the network would interfere with GPS, it's looking very likely that Sprint will have to cut Lightsquared a check soon. Lightsquared claims that testing by the National Telecommunications and Information Administration is flawed, but it's hard to say what the company will be able to do in the next month to change the FCC's mind.

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