LightSquared (news) won reprieves in the last two days from both the FCC and its hopeful wholesale customer Sprint Nextel (NYSE:S, news, filings). The big day had been yesterday, until the FCC decided to put things off a bit further by asking for public comment on LightSquared's recent argument
that the GPS industry ought to take its interference complaint and shove it up *ahem* I mean that the GPS industry isn't entitled to the protection they're claiming.
With comments due by February 27 and responses to those comments due two weeks later, the deadline is now six weeks away in mid-March. And Sprint followed up immediately by granting LightSquared an extension to its extension, allowing them another 6 weeks to get the FCC approval they need to start building. Sprint of course doesn't have anything to lose here, as they're just getting started on their own buildout.
But is it at all likely that LightSquared will win its petition, wiping the floor with the GPS industry's lobbyists in one shot after whiffing on every swing for a year? No, not really. There's too much political power behind their enemies for any clean win.
Probably they will be using the time to commission a definitive test of their own demonstrating how rigged the last one was. Then they'll file another petition. Ah Washington DC, land of the never ending deadline.