LightSquared and Sprint's agreement is under risk

LightSquared and Sprint has agreed last year to work together for 15 years. They were agreed that they will share wireless spectrum, equipment costs and network construction. This agreement was on the provisions of Federal Communications Commission's (FCC) approval to LightSquared.

Recently, Sprint reported that it has given LightSquared six weeks to get FCC approval, so that the agreement could run smoothly.

"Sprint and LightSquared have extended their agreement until mid-March to give LightSquared additional time to address issues associated with the 1.6 spectrum," Sprint said in a statement on Tuesday. It also gave more details about a temporary stop to work on the project pending the regulatory approval, "At the end of 2011, Sprint and LightSquared jointly decided to pull back on expenses and stop new deployment design and implementation. All work has been halted. This helps ensure Sprint's Network Vision project remains on schedule."

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