The Federal Communications Commission announced Tuesday that it will revoke initial permission it granted to the company to operate its ground-based broadband network because LightSquared’s network interferes with the global-positioning satellite systems. Here’s a quick recap of the controversy’s history and a look at where it stands right now.

What does LightSquared do? LightSquared is a broadband company that is trying to launch a nationwide 4G-LTE network integrated with satellite coverage. The company says it’s aiming to cover at least 260 million Americans with its network by 2015.

In January 2011, the Federal Communications Commission issued a conditional waiver to the company meant to fast-track the network, if there was not an interference problem with the GPS network.

Who are the key players here? LightSquared was created by Harbinger Capital, which made a $14 billion commitment to the project. The investment fund is headed by billionaire Philip Falcone, who made his money by betting against subprime mortgages. The FCC originally supported LightSquared because the network’s project would expand broadband access to rural areas and provide competition to big wireless companies such as AT&T and Verizon.

Then, last January, lawmakers and members of the GPS industry began raising loud objections to the network, pointing to the possibility that its network would interfere with GPS satellites.

What went wrong? Tests from the GPS industry, the government and from LightSquared itself showed that there was, in fact, interference between LightSquared and the satellite network.

On Tuesday, the National Telecommunications and Information Administration (NTIA) issued a report saying that its analysts showed there is “no practical way to mitigate the potential interference at this time.” That in turn prompted the FCC to say it will suspend its waiver indefinitely, which all but ends LightSquared’s push to launch its network. The FCC said that on Wednesday it would begin to take comments on the agency’s plans and the NTIA’s findings on LightSquared’s interference.

In response to the NTIA report, LightSquared issued a news statement saying it will continue to work on finding a resolution with the federal government and the GPS industry to resolve the concerns.

“LightSquared profoundly disagrees with both the NTIA’s and the PNT’s recommendations,” the company said.