This just hit the wires ,any one decifer what the implications are for the previous announcements concerning the deal with GBLX?
Paul Coe Clark III, Editor
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Monday, December 20, 1999
Vol. 5, No. 245
Nextel Wins License Fight In Federal Court
Wireless industry analysts report a federal court has approved a modified antitrust ruling in favor of Nextel Communications [NXTL] that will allow the Reston, Va.-based SMR giant to buy more 900 MHz licenses in the top 25 markets.
A second carrier with licenses for spectrum that Nextel wants, NextWave, modified its bankruptcy reorganization after investors chipped in $1.6 billion to help build its wireless data network. The investors include Global Crossing [GBLX], Liberty Media Group [LMG], Texas Pacific Group and Pacific Capital Group.
The ruling in the U.S. District Court for the District of Columbia approved an agreement Nextel reached with the Justice Department in June that will allow it more 900 MHz SMR frequencies in the top 14 U.S. markets. It apparently clears the way for Nextel to begin operating in those frequencies as of Oct. 30, five years earlier than its original deal with the government would allow.
Nextel, which is backed by entrepreneur Craig McCaw, sued the DOJ because the parties' 1995 consent agreement prevented the company from buying licenses in the 900 MHz band from defunct Geotek Communications for $150 million.
SoundView Technology Group on Friday advised buying Nextel shares |
