NextWave Spectrum Saga Draws To A Close
Apr 21, 2004, 8:35 AM by (staff)
The FCC reached a final settlement with NextWave yesterday, ending an epic 5-year legal battle over spectrum that went all the way to the Supreme Court. NextWave owns up to 30 MHz of PCS spectrum in many markets nationwide - spectrum that has sat unused since it was auctioned in 1997. The settlement requires NextWave to return 72 percent of its spectrum to the FCC, plus $1.6 billion cash. NextWave also recently sold about 18 percent of its licenses to Cingular for $1.4 billion. In total, NextWave will have shed at least 90 percent of its spectrum assets. The FCC is expected to auction the licenses it receives from NextWave.