Tue, Feb 21, 2012
Had Owed The UK-Based Satellite Spectrum Owner Over $56
Million
LightSquared has reportedly defaulted on a $56.25 million
payment to UK-based Inmarsat, and in keeping in character, has
partly blamed the satellite provider and spectrum owner for the
move.
Engadget
reports that LightSquared had entered into an
agreement in 2007 with the satellite spectrum owner, but the recent
ruling by the FCC that it could not operate in its existing form
without interfering with GPS has brought its plans to deploy a
nationwide 4G-LTE broadband network to a screeching halt.
In a statement, LightSquared continues to insist that it will be
successful in its efforts. "LightSquared has received a notice of
completion from Inmarsat relating to the first phase of the
companies' 2007 multi-phase agreement to reallocate spectrum
resources," the statement reads. "As part of the first phase,
Inmarsat is required to fulfill certain obligations important to
the deployment of LightSquared's 4G-LTE integrated terrestrial and
satellite network and protection of their respective customers.
"LightSquared has raised several matters that require resolution
before the first phase comes to a close. The terms of the agreement
allow for additional time to resolve pending questions before phase
one is complete and the final payment is due.
"LightSquared is committed to fulfilling its business plan to
bring world-class wireless broadband connectivity to millions of
Americans and believes that Inmarsat will remain an important
partner in the company's future endeavors."
More News
Aero Linx: Model Aeronautical Association of Australia MAAA clubs are about fun flying, camaraderie and community. For over 75 years, the MAAA has been Australia’s largest fl>[...]
Touchdown Zone Lighting Two rows of transverse light bars located symmetrically about the runway centerline normally at 100 foot intervals. The basic system extends 3,000 feet alon>[...]
“Discovery and innovation are central to our mission at Virgin Galactic. We’re excited to build on our successful record of facilitating scientific experiments in subor>[...]
How To Get A Story On Aero-TV News/Feature Programming How do I submit a story idea or lead to Aero-TV? If you would like to submit a story idea or lead, please contact Jim Campbel>[...]
Student Pilot Reported That During Rotation, “All Of A Sudden The Back Of The Plane Kicked To The Right..." Analysis: The student pilot reported that during rotation, “>[...]