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News > Technology
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NextWave revisits license talks
The wireless company is in discussions again about access to disputed licenses, report says.
May 6, 2002: 9:38 AM EDT

NEW YORK (CNN/Money) - Executives from NextWave Wireless Telecom Inc. have resumed talks with several other wireless companies over disputed spectrum licenses in an effort to come to an agreement about ownership, a newspaper reported Monday.

In a ruling by a lower court, the U.S. government was ordered to return the licenses to NextWave, but it appealed the decision to the Supreme Court, which is preparing to hear the case, the Wall Street Journal said.

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Access to the spectrum would provide space for wireless companies to expand service, including high-speed mobile Internet access.

NextWave previously had agreed to sell the licenses to Verizon (VZ: Research, Estimates) and other wireless companies for $6 billion, a deal which would have required the buyers also to pay $10 billion collectively to the government. But the talks fell through.

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In 1996, NextWave agreed to pay $4.7 billion to the government for the spectrum licenses, but the company filed for bankruptcy in 1998 after having paid only $500 million of the total. The government repossessed the licenses and resold them for $16 billion to other wireless companies. But the deal collapsed when the Federal Communication Commission ordered the government to return the licenses to NextWave last year.

People close to the situation said the wireless companies haven't come to a decision yet, but that if they do it is likely to be very different than the previous agreement, the report said.  Top of page


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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.