Subject: [NEXTEL-1] Leap Looks To Unload Some Spectrum

From: [email-masked]
Date: Mon, 11 Aug 2003 17:43:17 -0400

Leap Looks To Unload Some Spectrum

AUGUST 11, 2003

Moving forward with its plan to emerge from bankruptcy proceedings, Leap Wireless
International Inc. is looking to shed some assets. Specifically, the company is
soliciting competing bids for spectrum in Idaho.

Leap's subsidiary Cricket Licensee (Reauction) Inc., which owns the licenses,
previously struck a deal with Edge Acquisitions Inc. for the sale of 15 MHz of
spectrum in Idaho Falls and Twin Falls. The spectrum is priced at $3.25 million,
and as required by bankruptcy laws, Leap must accept competing bids for the
spectrum to ensure the best price is paid. In 1999, when Cricket acquired the
licenses in Idaho Falls and Twin Falls, it paid $84,000 and $49,000, respectively.

Bids must be made in $25,000 increments over the current sale price and will be
accepted until 4 p.m. Pacific time on Sept. 3. Competing bids must be in cash, are
not conditioned on the FCC's approval of the sale and must be deemed favorable by
Edge.

Leap filed for Chapter 11 protection from its creditors in mid-April in U.S.
Bankruptcy Court for the Southern District of California in San Diego. Last week,
the bankruptcy court approved Leap's disclosure statement, bringing the company
one step closer to emerging from the Chapter 11 proceedings.

http://www.wirelessweek.com/index.asp?layout=newsat2direct&starting=3&pubdate=08/11/03

------------------------ Yahoo! Groups Sponsor ---------------------~-->
Buy Ink Cartridges or Refill Kits for Your HP, Epson, Canon or Lexmark
Printer at Myinks.com. Free s/h on orders $50 or more to the US & Canada. http://www.c1tracking.com/l.asp?cid=5511
http://us.click.yahoo.com/l.m7sD/LIdGAA/qnsNAA/61FxlB/TM
---------------------------------------------------------------------~->

Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/