Subject: [NEXTEL-1] Nextel Announcement Possibly Delayed

From: NEXTEL-1
Date: Tue, 06 Jul 2004 14:31:07 -0400

Nextel Announcement Possibly Delayed
Analysts claim that legal challenges might delay the approval of Nextel
Communication's proposed wireless license swap. The Federal
Communications Commission (FCC) is expected to approve a plan for Nextel
to swap its 800-megahertz band for spectrum in the 1.9-gigahertz band.
Competitors, such as Verizon Wireless, are expected to challenge the
decision by arguing that the FCC does not have authority from Congress
to assign wireless airwaves and must auction them instead. Nextel is
expected to pay $3 billion for the spectrum and airwaves and $2 billion
to cover transition costs.  Verizon Wireless has written a letter
warning FCC officials that they could potentially face criminal charges
and has offered to bid $5 billion for the airwaves. Verizon believes
that if Nextel wins the spectrum other companies will join them to take
action. According to an agency source, Congress does not plan on getting
involved in the matter until the FCC first attempts to resolve it.
(Source:
Reuters)

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