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Technology Stocks : Nextwave Telecom Inc.

WAVE 8.150

-0.9%

3:59 PM EST

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To: Maurice Winn who wrote (831)	10/17/2002 2:00:10 PM
From: Michael Allard	Read Replies (1) of 1088

I do not believe the spectrum is currently worth anywhere near what AT&T and Verizon were willing to pay last year. They couldn't wait to get let off the FCC's bid hook on this spectrum. They (At&T and verizon) fought tooth and nail to get their deposit back, and be relived from liability. I don't think they are going to jump back in. What a cycle....same thing hapend in '86 to start this whole mess. Nextwave bid the 4.5b, then couldn't get a license from the FCC, and subsequantly lost their funding when the market soured. There were tons of articles out blasting Nextwave for agreeing to pay that huge amount for the spectrum. Then, NXTL offered them a premium for the spectrum, and eventually the FCC re-auctioned for more than 15b! Many articles were published saying how well Nextwave had played their hand, now owning spectrum that cost only 4.5b and would turn it around for a 10b profit! But then the market sours again, and AT&T, Verizon, etc, pull out. Now once again...what was Nextwave thinking bidding 4.5b for that spectrum?

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