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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

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Nov 18 3:59 PM EST

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To: Ramsey Su who started this subject	3/4/2002 10:14:54 AM
From: foundation	Read Replies (1) of 196668

US Supreme Court to hear NextWave airwaves dispute Monday March 4, 10:08 am Eastern Time WASHINGTON, March 4 (Reuters) - The U.S. Supreme Court said on Monday it would decide whether it was legal for the Federal Communications Commission to repossess valuable wireless licenses from a company, NextWave Telecom Inc. , that failed to pay for the airwaves on time. The development has monumental significance because, after the FCC took the licenses away from the bankrupt company, the government resold them for $15.85 billion to other mobile carriers like Verizon Wireless (NYSE:VZ - news)(quote from Yahoo! UK & Ireland: VOD.L) and VoiceStream Wireless Corp. which want the airwaves to expand and improve their services. A federal appeals court last June handed the disputed licenses back to NextWave, which has begun activating its network to become a wholesale provider of airtime to content providers, sending the government to the high court. The FCC asked the high court to hear the case, arguing that bankruptcy law should not supersede statutes designed to allocate airwaves. Oral arguments will likely take place in the court's term that begins in October, with a decision expected in early 2003. biz.yahoo.com

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