Subject: [NEXTEL-1] FCC Approves Cingular's NextWave Spectrum Buy

From: [email-masked]
Date: Fri, 13 Feb 2004 15:06:49 -0500

FCC Approves Cingular's NextWave Spectrum Buy
BY SUSAN RUSH
FEBRUARY 13, 2004

Cingular Wireless has cleared the final hurdle blocking its path to snapping up
spectrum licenses from NextWave Telecom. The FCC has granted consent to the $1.4
billion deal.

In November, Nextel Communications Inc. filed a complaint with the FCC
protesting an application submitted by NextWave Telecom and Cingular Wireless to
get approval for a waiver to pay $170 million in interest for the 34 C and F
block PCS licenses. At the time, Cingular said the complaint had no merit, and
the FCC obviously agreed.
An argument also was put forth that NextWave would pocket $700 million from the
sale. The FCC, however, said that ongoing litigation "to recover for the public
a portion of the value of the public spectrum resource would only hinder the
immediacy of our ability to recover such value."

When NextWave filed for bankruptcy in 1998, the FCC seized its spectrum. The
move led to heated court battles, which ultimately had the U.S. Supreme Court
ruling that federal bankruptcy law outweighed the FCC's attempts to manage
spectrum.

Cingular announced its plans to purchase the spectrum from NextWave last August.
The majority of the licenses cover markets where Cingular already offers
services -- of the 34 markets, Cingular already offers service in all but seven.
The potential customer base is 83 million.

http://www.wirelessweek.com/index.asp?layout=newsat2direct&starting=1&pubdate=02/13/04

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