A wireless partnership that could have competed with the U.S.’s largest carriers like AT&T (NYSE:T) and Verizon (NYSE:VZ) has ended. The Wall Street Journal reports Sprint (NYSE:S) will end its 15-year contract with LightSquared and return $65 million in prepayments to the company.The move comes after the Federal Communications Commission said earlier this year that LightSquared would not be able to operate its proposed nationwide fourth-generation network. The wireless start-up’s plan would have used satellite wireless airwaves through 40,000 cell towers covering 260 million Americans. LightSquared hoped to sell its service wholesale to carriers seeking extra capacity.Last month, the FCC said it wouldn’t allow LightSquared to operate its network because of concerns it would interfere with Global Positioning Systems signals. Because of the termination of Sprint’s deal, LightSquared will have to find more funding if it ever gets approval for their planned network.
