NextWave Settlement Ratified by Justice Department
Nov 29, 2001, 5:36 AM by (staff)
The USA Justice Department has ratified the settlement between the telecoms regulator, the FCC and NextWave. Last year the U. S. Court of Appeals interpreted federal law as blocking† the FCC from reclaiming and reauctioning the spectrum licenses held by NextWave. The consequence was that NextWave was issued its licenses, and the FCC was left to try and collect in bankruptcy the US$4.7 billion that NextWave owed the government. This settlement requires Congressional approval in the form of implementing legislation.
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