Cellphone towers 2012 05 14

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The high-speed wireless company failed to reach an agreement with its creditors.

The high-speed wireless startup said that it will continue to work on getting its network approved by the FCC.

Satellite dishes and cell phone towers atop a roof of a building in the center of Caracas, Venezuela, on Mar. 19, 2009.

THOMAS COEX

AFP/Getty Images