Sprint close to $20 billion network deal with LightSquared
LightSquared Inc., a 4G LTE communications network, is very close to a deal that could put up to $20 billion in the bank for Sprint Nextel over the next 15 years. According to two anonymous sources speaking to Bloomberg, the agreement would give LightSquared the ability to expand faster while letting both companies share costs in regards to network build-out.
Sprint would receive as much as $2 billion annually from LightSquared in the first stages of the contract to help pay for the network equipment and construction costs, said one of the people. Payments thereafter would vary annually based on the number of users on the LightSquared network and usage patterns, said the person. The full value of the contract will depend on those payments.
4G LTE, here we come.
Jonathan S. Geller
Jonathan Geller is the founder of Boy Genius Report, now known as BGR. What began as a column on popular gadget blog Engadget quickly grew into one of the site’s biggest draws, and Jonathan soon detached the wildly popular column to create what has since become the biggest mobile news destination in the world.
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