Technology

NextWave reaches settlement with US government

NextWave has reached a settlement with the US telecoms regulator. Under the terms of the agreement, NextWave will relinquish its C and F block licenses to the preformed bidders from the most recent round of reauctions. The federal government will receive $10 billion. The agreement is yet to be ratified by the Department of Justice.

CBR Staff Writer November 18, 2001

In addition, Congressional action will be required to implement the settlement, and the bankruptcy court overseeing NextWave’s Chapter 11 reorganization also must approve it. NextWave will continue to develop its networks until they are taken over. Of the 95 network markets it currently holds, NextWave’s D and E blocks are anticipated to launch commercial service during the first half of 2002.

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