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Technology Stocks : Nextwave Telecom Inc.
WAVE 8.230+0.1%11:33 AM EST

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To: pcstel who wrote (840)4/24/2003 11:59:59 PM
From: waitwatchwander  Read Replies (1) of 1088
 
FCC Says NextWave's Network Is Compliant

wirelessweek.com

By Mark Rockwell
April 23, 2003
news@2 direct


WASHINGTON -- NextWave Telecom is in compliance with network build-out rules, according to the FCC, a development that could pave the way for the company to emerge from its bankruptcy with a promising future.

NextWave has been embroiled in a legal battle over spectrum rights, culminating in a U.S. Supreme Court ruling that verified the company's ownership. As part of NextWave's ownership responsibilities, under FCC spectrum rules, the company had to show that it was building network facilities capable of sustaining service in the markets where it owned spectrum--which included 95 cities across the United States. The company filed reports detailing its installation progress with the FCC and at the same time filed for bankruptcy.

As the court battle and bankruptcy proceedings continued, NextWave maintained it was meeting its build-out requirements, even though clear ownership of the licenses was in question. The FCC had to sign off on those build-out filings to keep NextWave's ownership valid. FCC officials had said that reviewing and approving the filings was difficult to do before or during the Supreme Court's deliberations on the ownership issue. NextWave critics had said the company's installations were nothing more than window dressing and were incapable of sustaining commercial traffic.

'We're comfortable' with NextWave's build-out compliance efforts, says Bryan Tramont, senior legal advisor to FCC chairman Michael Powell.

'We're very pleased that the commission has approved our demonstrations of compliance with its 'buildout rule' in all 95 markets where NextWave is licensed to provide broadband PCS service,' says NextWave Chairman and CEO Allen Salmasi in a prepared statement. 'Deploying and continuously operating wireless facilities in so many markets while reorganizing in bankruptcy is a tremendous accomplishment by our network team, and is a testament to the confidence of our creditors committee and lender in the company's future. The commission's certification clears a major regulatory requirement for us, and positions us to complete our reorganization successfully and emerge from bankruptcy.'
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