Tuesday, February 14, 2012

LightSquared Fires Back at FCC, Claims $4 billion Spent

Following the NTIA's finding that there is "no practical solution" to the GPS interference issue with LightSquared's proposed network, and the FCC's subsequent decision to rescind its conditional approval of the network, LightSquared fired back. In a press statement, Sanjiv Ahuja, Chairman and CEO of LightSquared states:

"After years of receiving regulatory approvals, the FCC approved LightSquared to build its ground network in 2005. In 2010, the FCC amended that plan, requiring LightSquared to build a national broadband network that reached 260 million Americans. At the government's mandate, LightSquared began investing billions of dollars in America's infrastructure – without asking for any money from the American taxpayer. Yesterday, after LightSquared had already spent nearly $4 billion, the FCC changed its mind. There can be no more devastating blow to private industry and confidence in the consistency of the FCC's decision-making process." http://www.lightsquared.com