Subject: [NEXTEL-1] FCC, NextWave Reach Final Settlement On Spectrum

From: [email-masked]
Date: Tue, 20 Apr 2004 18:31:57 -0400

=DJ   FCC, NextWave Reach Final Settlement On Spectrum -3- 
(2004/04/20 5:47PM) 

The plan will enable NextWave to complete its reorganization and 
emerge from bankruptcy sometime after Sept. 30, the company said in 
a statement. A bankruptcy court hearing on the matter has been 
scheduled for May 25. 

"Given the complex legal, monetary and regulatory nature of the 
negotiations and resulting agreement, I believe this agreement gives 
everyone a fresh start and, ultimately, is in the best interest of 
our constituencies," said Allen Salmasi, NextWave chairman and chief 
executive. 

What NextWave does with the airwaves depends on the business 
opportunities and the price of spectrum, one major creditor of the 
company said in an interview. 

"We do believe there is a great opportunity in wireless data," said 
Doug Teitelbaum, managing principal of Bay Harbour, which invests in 
distressed firms. "But if people are willing to pay better prices 
for the spectrum than we did, there could be a sale." 

Steve Largent of the Cellular Telecommunications and Internet 
Association said the government "should be applauded for clearing up 
these unsettled issues and finally bringing to an end the eight 
years of uncertainty regarding the use of this valuable spectrum." 

"This is extremely valuable spectrum that has been in legal 
purgatory for eight-plus years," said telecommunications analyst 
Scott Cleland of the Precursor Group. "The main question is when 
does this spectrum get put to productive use by somebody."

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