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ComicalMoodyDan · 08-22-2003, 3:25 PM

Cingular, NextWave Get Closer To Goals
By Mark Rockwell
August 22, 2003
news@2 direct

A New York bankruptcy court judge verbally approved the wireless licenses deal between NextWave Telecom Inc. and Cingular Wireless yesterday, bringing both companies a little closer to their goals of either adding more spectrum, in Cingular's case, or financial solvency, in NextWave's.

Bankruptcy Judge Adlai Hardin said he had no objection to the order that would allow NextWave to enter a deal with Cingular for the spectrum, said sources who attended the hearing yesterday. Judge Hardin hasn't formally signed off on the deal yet, however. That approval could come in a few days, said the source. The deal would net Cingular licenses to provide service to about 83 million customers in 34 markets nationwide, and would bring NextWave about $1.4 billion in cash as its tries to re-emerge from bankruptcy proceedings.

When the deal was announced earlier this month, Cingular chief operating officer Mark Feidler said although his company already provides services in most of those markets, the additional spectrum would bolster those holdings. NextWave needs more cash to keep itself in operating status while installing a national data-capable network.

Because NextWave's bankruptcy filing is in the Southern District of New York in White Plains, the court must approve any sales of its assets. The companies also must file their plans with the FCC for its approval.

Even with the judge's approval, the sale of the licenses to Cingular isn't set in stone. Competing bids can be filed at the bankruptcy court for the spectrum up until Sept. 15, followed by a Sept. 23 auction if necessary. Verizon Wireless, for example, is exploring a possible bid.

Cingular, NextWave Get Closer To Goals

Stewie · 08-22-2003, 4:07 PM

Great news! Maybe that Nextel lawsuit will keep Verizon's focus away from Nextwave. Coincidence or strategic planning?

bobolito · 08-25-2003, 11:07 PM

Now Vodafone should add a twist here and start pulling Verizon's tail to keep them even busier [img]i/expressions/face-icon-small-wink.gif[/img]

1900mhzcdma · 08-26-2003, 9:48 PM

We should just have all the PCS carriers jump on so the spectrum could be tied up even longer [img]i/expressions/face-icon-small-wink.gif[/img]
We could even have some obscure company come out and make a down payment and then file for bankruptcy!
This is just making me hate corrupt organizations even more.

bobolito · 08-27-2003, 8:28 AM

That's only if you get past the FCC approval...so good luck!

njsvrzncdma · 08-30-2003, 11:28 AM

love the "rear ended" emoticon. LOL

08-22-2003, 3:25 PM	#1
ComicalMoodyDan Join Date: Dec 2001 Location: Kingsport, TN Posts: 6,084 Phone(s): Blackberry 8520 Provider(s): T-Mobile Devices: T-Mobile @Home Thanks: 0 Thanked 20 Times in 15 Posts	Cingular, NextWave Get Closer To Goals Cingular, NextWave Get Closer To Goals By Mark Rockwell August 22, 2003 news@2 direct A New York bankruptcy court judge verbally approved the wireless licenses deal between NextWave Telecom Inc. and Cingular Wireless yesterday, bringing both companies a little closer to their goals of either adding more spectrum, in Cingular's case, or financial solvency, in NextWave's. Bankruptcy Judge Adlai Hardin said he had no objection to the order that would allow NextWave to enter a deal with Cingular for the spectrum, said sources who attended the hearing yesterday. Judge Hardin hasn't formally signed off on the deal yet, however. That approval could come in a few days, said the source. The deal would net Cingular licenses to provide service to about 83 million customers in 34 markets nationwide, and would bring NextWave about $1.4 billion in cash as its tries to re-emerge from bankruptcy proceedings. When the deal was announced earlier this month, Cingular chief operating officer Mark Feidler said although his company already provides services in most of those markets, the additional spectrum would bolster those holdings. NextWave needs more cash to keep itself in operating status while installing a national data-capable network. Because NextWave's bankruptcy filing is in the Southern District of New York in White Plains, the court must approve any sales of its assets. The companies also must file their plans with the FCC for its approval. Even with the judge's approval, the sale of the licenses to Cingular isn't set in stone. Competing bids can be filed at the bankruptcy court for the spectrum up until Sept. 15, followed by a Sept. 23 auction if necessary. Verizon Wireless, for example, is exploring a possible bid. Cingular, NextWave Get Closer To Goals

08-22-2003, 4:07 PM	#2
Stewie Fresh Member Join Date: Aug 2003 Posts: 14 Thanks: 0 Thanked 0 Times in 0 Posts	Cingular, NextWave Get Closer To Goals Great news! Maybe that Nextel lawsuit will keep Verizon's focus away from Nextwave. Coincidence or strategic planning?

08-25-2003, 11:07 PM	#3
bobolito iPhone 3G 16GB (White) Join Date: May 2002 Location: in front of my computer Posts: 12,575 Phone(s): iPhone 3G, Sierra 875 3G Aircard Provider(s): AT&T Mobility Devices: WiFi cards/Access points Thanks: 3 Thanked 17 Times in 14 Posts Images: 50 My Auctions	Cingular, NextWave Get Closer To Goals Now Vodafone should add a twist here and start pulling Verizon's tail to keep them even busier [img]i/expressions/face-icon-small-wink.gif[/img] __________________

08-26-2003, 9:48 PM	#4
1900mhzcdma Junior Member Join Date: Aug 2003 Posts: 224 Thanks: 0 Thanked 0 Times in 0 Posts	Cingular, NextWave Get Closer To Goals We should just have all the PCS carriers jump on so the spectrum could be tied up even longer [img]i/expressions/face-icon-small-wink.gif[/img] We could even have some obscure company come out and make a down payment and then file for bankruptcy! This is just making me hate corrupt organizations even more.

08-27-2003, 8:28 AM	#5
bobolito iPhone 3G 16GB (White) Join Date: May 2002 Location: in front of my computer Posts: 12,575 Phone(s): iPhone 3G, Sierra 875 3G Aircard Provider(s): AT&T Mobility Devices: WiFi cards/Access points Thanks: 3 Thanked 17 Times in 14 Posts Images: 50 My Auctions	Cingular, NextWave Get Closer To Goals That's only if you get past the FCC approval...so good luck! __________________

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08-30-2003, 11:28 AM	#6
njsvrzncdma i cant stop the ringing.. Join Date: Aug 2002 Location: JeRsEy Posts: 2,576 Phone(s): LG vx8500, LG vx8100 Provider(s): VERIZON Devices: MP3, GPS, Wireless LAN, TV remote (lol) Thanks: 0 Thanked 0 Times in 0 Posts My Auctions	Cingular, NextWave Get Closer To Goals love the "rear ended" emoticon. LOL __________________ "Be fruitful, curious, careful, intelligent, spontanious and wise but never forget to have fun, never forget to remember the good times, and always be true to yourself."

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