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Technology Stocks : Nextwave Telecom Inc.
WAVE 8.150-0.9%3:59 PM EST
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To: DaveMG who wrote (830)10/21/2002 1:27:50 PM
From: pcstel  Read Replies (1) of 1088
 
Mq..The reason I'm getting interested is that it seems that there might actually be quite a bit more value left over for shareholders after the debt is paid to the FCC and creditors than is reflected in the share price.

Dave.
There is much more to this than the Supreme Court ruling. Irrespective of the Supreme Court ruling are the strictly regulatory requirements behind some of these licenses.

Nextwave makes claim that in the agreement between the FCC/Justice Dept. The Construction Deadlines for these licenses were suspended. The FCC takes a different presepective and seems to imply that Nextwave has missed Construction Deadlines on many of it's licenses. Nextwave rushed to file for an Extension period, but only after the Deadline had passed. The cruel truth may be that even if the Supreme Court rules in favor of Nextwaves Bankruptcy protection claims. The FCC may still revoke these licenses due to other regulatory conditions that are not included in the scope of the Supreme Court decision.

In other words. Even if they win the Supreme Court decision, they may not be able to sell the licenses, or use them if the FCC revokes them for missing the Construction Deadline, or requesting an Extension of Time to do so before the deadline.

My view is that these licenses will be in limbo via court actions for many years to come. And with the depressed value of spectrum. Nextwave may just run out of money in a prolonged court battle even after a Supreme Court victory.

wtbwww05.fcc.gov

PCSTEL
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