Cingular Planning Nextwave Spectrum Purchase
Aug 1, 2003, 12:04 PM by (staff)
Cingular Wireless is in talks to buy wireless licenses from NextWave Telecom, the company said today. A press release mistakenly released this morning announced terms of the deal, but was then retracted with Cingular announcing that the deal is not yet final. The release indicated that Cingular plans to buy licenses from NextWave in 34 markets for $1.4 billion in cash. The deal would give Cingular badly-needed spectrum to boost capacity and improve data offerings. The licenses would cover cities including San Francisco, Los Angeles, Dallas, Houston, Chicago, Washington and Boston.