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Technology / AI and automation

NEXTWAVE ASKS FOR LENIENCY OVER MOBILE FREQUENCY BILL

Nextwave Telecom Inc, the company which agreed to pay the Federal Communications Commission $4.7bn for its 1996 Personal Communications Services mobile phone frequency auctions, has been trying again to persuade the Commission to adopt a more lenient repayment system. Nextwave ended up paying far more than for its license than any other company, and Pocket Communications, which bid the second highest amount, has already gone bankrupt as it struggled to pay for the license and build up its network at the same time (CI Nos 3,134, 3171). Nextwave is now asking for a ‘modest’ further deferral of its interest payments, which are due to restart in early 1998, having been changed from a quarterly to a yearly payment structure in March, with an effective nine month deferral period

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CBR Staff Writer

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