Cingular, Nextwave Agree on Spectrum Purchase
Aug 5, 2003, 10:07 AM by (staff)
Cingular Wireless and NextWave Telecom today officially announced an agreement for Cingular to purchase PCS wireless licenses from NextWave covering 34 markets, for $1.4 billion. The licenses primarily cover markets where the company already offers wireless service, and will be used to add much-needed capacity. The licenses will also enable Cingular to launch service in a handful of new markets, including Portland, Oregon; Salt Lake City, and El Paso. The transaction is subject to court and regulatory approval.