Business & Tech

Reston's Lightsquared May Offer Sprint Nextel $20 Billion

Companies would share costs of network construction.

Reston's LightSquared is in talks to pay Sprint Nextel Corp. as much as $20 billion in a deal to share 4G network construction costs, Bloomberg News reported Thursday, citing sources familiar with the talks.

LightSquared would pay as much as $2 billion annually initially, with payments varying later, based on users on its network, Bloomberg reported.

LightSquared is building a nationwide wholesale 4G network that it will offer capacity to business partners. It plans to offer service to as many as 260 million subscribers by 2016

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