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Technology Stocks : Nextwave Telecom Inc.

WAVE 8.220

+10.8%

Nov 10 3:59 PM EST

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From: Dennis Roth	3/1/2005 4:40:35 PM
	of 1088

NextWave says bankruptcy reorganization plan OK'd Tue Mar 1, 2005 01:53 PM ET yahoo.reuters.com NEW YORK, March 1 (Reuters) - NextWave Telecom Inc. (NXLC.PK: Quote, Profile, Research) said on Tuesday that a U.S. bankruptcy court had approved its reorganization plan, paving the way for it to emerge from Chapter 11 bankruptcy protection. The company said it still is awaiting Federal Communications Commission regulatory approval for a deal in which Verizon Wireless will acquire NextWave's airwave licenses. That transaction has already been approved by the bankruptcy court. After the reorganization, the company plans to launch broadband wireless operations in Las Vegas, Nevada and in New York City.

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