The FCC issued the A&B block licenses immediately following the close of that auction - even though they were investigating some of the winners (all winners received their licenses at the same time despite the investigation).
CASH BUYERS MY BOY!! CASH UP FRONT!
Let's do a comparison? Shall we?
Everyone... Man your ULS!!
wireless.fcc.gov
Market: MTA002
Radio Service Code: CX - PCS Broadband
Auction ID: 4 - BB PCS A/B
KNLF206 AT&T Wireless PCS,LLC
Grant Date: 06/23/1995
AUCTION 4 ENDED ON MARCH 13, 1995
"On March 13, 1995, the Commission completed its auction of 99 licenses to provide
Personal Communications Services in the 2 GHz band (broadband PCS), raising a total of
$7,736,020,384."
fcc.gov
License was conveyed in 3 Months, 10 Days
Let's compare that to an Auction 5 winner, which abided by the rules and did not make material misrepresentations on their Form 175's and Form 601's.
ChaseTel. The winner of Nashville BTA
wireless.fcc.gov
Market: BTA314
Radio Service Code: CX - PCS Broadband
Auction ID: 5 - BB PCS C
KNLF469 CHASETEL LICENSEE CORP.
Grant Date: 09/17/1996
"May 8, 1996
Entrepreneurs' C Block Auction Closes
FCC ANNOUNCES WINNING BIDDERS IN THE AUCTION OF 493 LICENSES TO PROVIDE BROADBAND PCS IN BASIC TRADING AREAS: Auction Event No. 5"
wireless.fcc.gov
The FCC conveyed those licenses to Auction 5 winners that truthfully represented themselves in their applications and proceeded in "best efforts" to secure their licenses in 4 months 10 days!
Cash Payers in Auction 4 got their licenses in 3 months 10 days.
Credit Payers in Auciton 5 got their licenses in 4 months 10 days.(Lot's of extra work for those Credit Payers, Escrow Accounts, etc) That's pretty good time for the Govt. IMO
This delay was what inhibited NextWave from raising capital,
ONE MONTH? LOL!!
And the FCC even put out a notice before the Auction to warn everyone about Foreign Ownership and Broadband PCS Auction Rules. In addition they showed evidence of it's willingness to act in "great haste" to convey the authorities by warning participants about filing "frivolous petitions to deny", and were prepared to impose sanctions where suchpleadings were filed.
"Finally, we remind bidders that our rules prohibit the filing of frivolous petitions to deny.
47 C.F.R. 1.52. The Commission has stated that it intends to fully utilize its authority to discourage and deter the filing of frivolous petitions and will impose sanctions where such pleadings are filed. Commission Taking Tough Measures Against Frivolous Pleadings, Public Notice, FCC 96-42 (released February 9, 1996)."
wireless.fcc.gov
"And just think Verizon is now saying the same thing. They won markets in Auction 35 only to have the FCC not convey the licenses to them, a whole 14 months later. Now Verizon is saying that they aren't worth what they bid 14 months ago, we want out, give us our money back. Boy, the FCC sure get's themselves into some deep doo doo. "
The Bidder Information packet for Aution 35 clearly indicated that indicated licenses were under judicial review, and the FCC made no guarantee as to the availability of conveyance in a timely manner, if at all.
More later!
PCSTEL |
