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LightSquared Says Sprint's Contract Termination is in the Best Business Interests of Both Companies
Posted: 16-Mar-2012 [Source: LightSquared]

[Sprint's decision to terminate their contractual relationship will "enhance our working capital" according to LightSquared.]

Reston, VA -- LightSquared, a wholesale-only integrated 4G-LTE wireless broadband and satellite network, today said that the decision by Sprint Corp. to end its contractual relationship with LightSquared is in the best business interests of both companies, and was not unexpected given the regulatory delays that have impacted LightSquared.

"These regulatory delays are unfortunate because they will deprive the American people of the benefits of additional competition in the wireless industry," said Doug Smith, chief network officer and interim co-chief operating officer of LightSquared.

"For LightSquared, Sprint's decision will enhance our working capital and provide more flexibility," he said.

LightSquared's objective, through its wholesale business model, is to provide increased competition and lower prices in the telecommunications industry, and to bring broadband cellular phone service to rural areas currently underserved. LightSquared remains committed to moving forward with its nationwide network build out.

As LightSquared moves forward, it will also continue to focus on providing mobile satellite voice and data communications to private industry, public safety organizations and emergency responders across the United States and throughout North America.

"Sprint has been a valued partner to LightSquared and we look forward to working together in the future," said Mr. Smith.

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