LightSquared wins 2-year reprieve from Inmarsat

04/22/2012 | Wall Street Journal, The · Network World

LightSquared has reached an arrangement with Inmarsat that will give the Philip Falcone-controlled company two more years to gain federal approval of its wireless network plans before making payments to the satellite spectrum provider. LightSquared defaulted on its March 31 payment but has negotiated a deal in which Inmarsat received $56.25 million and gave the company an option to start deploying its spectrum before a March 2014 deadline.

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Wall Street Journal, The · Network World

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