Sprint has elected to exercise its right to terminate the agreement signed in June 2011 with LightSquared. Per the agreement, Sprint agreed to deploy and operate an LTE network capable of utilizing the 1.6 GHz spectrum licensed to or available to LightSquared. The agreement contained contingencies related to possible interference issues with LightSquared's spectrum, including Sprint’s right to terminate the agreement if certain conditions were not met by LightSquared.

According to operator, Sprint has been and continues to be supportive of LightSquared’s business plans and appreciates the company’s efforts to find a resolution to the interference issues impacting its ability to offer service on the 1.6 GHz spectrum. However, due to these unresolved issues, Sprint is ending the deal announced last summer. Company remains open to considering future spectrum hosting agreements with LightSquared, should LightSquared, resolves these interference issues, as well as other interested spectrum holders.

Late last year, both companies agreed to halt deployment design and implementation of LightSquared’s network to ensure that Sprint’s Network Vision project remained on schedule. Network Vision remains on schedule and on budget, and Sprint is looking forward to begin launching its 4G LTE network mid-year.

Per the terms of the agreement, Sprint has returned $65 million in prepayments LightSquared made to cover costs that were not ultimately incurred by Sprint.