LightSquared made an outstanding payment to Inmarsat Friday for Phase 1 of its spectrum agreement. It received an additional two years to seek federal approval before it must pay for the second phase of the deal. Previously, Inmarsat had said it wasn’t certain it would receive any more payments from LightSquared, especially after the Federal Communications Commission announced the wireless venture was interfering with global-positioning systems. On Friday, though, LightSquared and Inmarsat announced the two had come to an agreement.
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LightSquared Buys Time From Inmarsat
Posted by: Rachelle Dragani April 23, 2012 10:50 AMLightSquared made an outstanding payment to Inmarsat Friday for Phase 1 of its spectrum agreement. It received an additional two years to seek federal approval before it must pay for the second phase of the deal. Previously, Inmarsat had said it wasn’t certain it would receive any more payments from LightSquared, especially after the Federal Communications Commission announced the wireless venture was interfering with global-positioning systems. On Friday, though, LightSquared and Inmarsat announced the two had come to an agreement.