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Technology Stocks : The New Qualcomm - a S&P500 company
QCOM 165.03+1.0%Nov 24 3:59 PM EST
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To: LBstocks who wrote (6057)2/1/2000 3:09:00 PM
From: Ruffian  Read Replies (1) of 13582
 
Qualcomm Asks U.S. FCC for Wireless License
Serving Southeast
By Heather Fleming Phillips

Qualcomm Asks U.S. FCC for Wireless License Serving Southeast

Washington, Feb. 1 (Bloomberg) -- Qualcomm Inc., developer of
computer chips used in millions of cellular telephones, is asking
federal regulators to set aside in an upcoming auction a wireless
license so it can provide Internet services in the Southeast.

A U.S. appeals court, siding with Qualcomm in a seven-year-
old fight, last July found the company is entitled to a U.S.
license to offer digital wireless phone service. The court also
ordered the U.S. Federal Communications Commission to identify
''suitable spectrum'' for the company since the license Qualcomm
sought was assigned to another company. It will have to pay for
the license, at a 15 percent discount over similar licenses.

San Diego-based Qualcomm has been in discussions with the FCC
for several months, and the company is now formally proposing that
it be granted a 20 megahertz license serving the southeastern U.S.
at a discounted price. The license is one of 12 scheduled to be
auctioned this spring, and can be used for high-speed Internet,
phone and other advanced communications services.
''The spectrum identified . . . is the only suitable spectrum
available,'' Qualcomm told the FCC in filing last week.

Qualcomm shares climbed 9 1/8 to 136 1/8 in midafternoon
trading.
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