Leap Wireless International to Acquire Operating Licenses
-From AtHome News. Nice to see the LWIN Cricket concept expanding.-- Cooters
In Denver, Pittsburgh - Markets Represent Significant Opportunity for Unique Cricket Service -
SAN DIEGO, Jan. 12 /PRNewswire/ -- Wireless communications carrier Leap Wireless International, Inc. (Nasdaq: LWIN) today announced that it has reached a definitive agreement to acquire PCS operating licenses in Denver, Colo. and Pittsburgh, Pa. for an undisclosed amount. At closing, the acquisition will add approximately five million POPs (potential customers) to Leap's holdings for use by its domestic subsidiary, Cricket Communications, Inc. With this new agreement, Leap now has licenses or rights to acquire licenses to offer the unique Cricket service to approximately 29.2 million potential customers (1998 POPs) in markets across the country. Cricket seeks to make wireless communications accessible to everyone by giving customers the freedom to make all their local calls with a wireless phone from around their metropolitan area for one low, flat rate. The acquisition is subject to certain conditions including approval from the Federal Communications Commission (FCC). This agreement is the definitive agreement contemplated by the memorandum of understanding that Leap announced on December 10, 1999. "Cricket service is designed to appeal to people who never thought they could afford the luxury of a mobile phone," said Susan G. Swenson, president and chief operating officer of Leap and president and CEO of Cricket. "With a simple, affordable service like Cricket, we believe wireless will become the way people from all walks of life stay in touch throughout their day."
About Cricket Communications, Inc.
Cricket Communications, Inc., a subsidiary of Leap Wireless International, plans to change the way people communicate by bringing wireless communications to the U.S. mass consumer market. Cricket's service concept, called Comfortable Wireless and the around-town phone, has been operating in Chattanooga, Tenn., since early 1999 using Chase Telecommunications' infrastructure under an agreement that provides that ChaseTel controls the business until Leap's proposed acquisition of ChaseTel is complete. Cricket service lets customers make all their calls in their local service area and receive calls from anywhere for one low, flat rate. Cricket's service also allows customers to make long distance calls by paying for these calls in advance. While roaming is not available, the local service area provides coverage where people live, work, and play. |
