MARCH 22, 2011, 7:36 A.M. ET Leap Joins Satellite-Broadband Co LightSquared On Roaming Deal
DOW JONES NEWSWIRES http://online.wsj.com/article/BT-CO-20110322-705399.html Prepaid wireless operator Leap Wireless International Inc. (LEAP) said it has reached a deal under which satellite broadband company LightSquared will provide roaming services for Leap's Cricket platform. Financial terms of the deal weren't disclosed. "This new roaming arrangement will allow us to offer customers an even greater 4G service area as LightSquared expands its own network," said Leap President and Chief Executive Doug Hutcheson. Hutcheson noted that the broader coverage from the agreement will help the company offer "compelling products and services." It also will help the company to access additional 4G capacity where needed amid a proliferation of data demand as smartphones become more popular. LightSquared is a satellite broadband start-up funded by private equity fund Harbinger Capital Partners. In January, the Federal Communications Commission approved a request to allow LightSquared to lease its airwaves for traditional mobile phones, meaning it can lease them to companies that offer normal smartphones rather than pricier satellite-enabled phones. The prepaid-wireless segment has flourished as companies attract customers who don't want to be tied to a long-term contract. But Leap has struggled in comparison with its competition of late, posting repeated losses. In February, Leap said its fourth-quarter loss widened on higher charges and costs, though revenue increased. Leap shares closed Monday at $14.05 and were inactive premarket. The stock has fallen 14% in the past year. -- ================================================= George Antunes Voice (713) 743-3923 Associate Professor Fax (713) 743-3927 Political Science Mail: antunes at uh dot edu University of Houston Houston, TX 77204-3011 _______________________________________________ Medianews mailing list [email protected] http://lists.etskywarn.net/mailman/listinfo/medianews
