Subject: [NEXTEL-1] NextWave Agrees to Return Airwave Licenses to FCC, Pay $386 Mln

From: [email-masked]
Date: Tue, 20 Apr 2004 18:01:14 -0400

NextWave Agrees to Return Airwave Licenses to FCC, Pay $386 Mln

April 20 (Bloomberg) -- NextWave Telecom Inc., which filed for
bankruptcy in 1998 because it couldn't pay $4.3 billion for cell-phone
airwave licenses it won in auctions, agreed to return most of its
remaining spectrum to the U.S. government and pay $386 million.

NextWave had owed the FCC $4.3 billion out of $4.8 billion for the
airwave licenses won in auctions.
The accord, which must be approved by U.S. Bankruptcy Court in New York,
would end all potential claims against the government, Federal
Communications Commission spokesman Richard Diamond said. Earlier this
month, NextWave completed the sale of about one-third of its licenses to
Cingular Wireless LLC for $1.4 billion.

http://quote.bloomberg.com/apps/news?pid=10000103&sid=aUkG6pLfOchk&refer=us

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