Harbinger Wireless Venture In Deal With Sprint

Jun 20 2011 | 2:05am ET

Otherwise wracked with difficulties, Harbinger Capital Management's ambitious wireless broadband venture has struck a crucial deal.

LightSquared and Sprint Nextel Corp. signed a 15-year agreement to both build and run the nationwide network—one that has drawn criticism, and negative test results, over possible interference with global positioning systems. Under the deal, Sprint will both help LightSquared set up its network and become a major, long-term customer.


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