Here is an excerpt from today's New York Times:
"In addition to the 10 billion minutes of mobile communications time, MCI said it might resell Nextwave's PCS coverage as an alternative to regular local telephone service, now that the Telecommunications Act of 1996 has opened the local telephone markets to competition.
The Yankee Group estimated that in 1995, United States cellular customers used about 30 billion minutes, or 500 million hours, of service, which represented about 1 percent of all telecommunications traffic."
The following are excerpts from the June 10, 1996 preliminary prospectus for NextWave's stock offering:
"Pursuant to the terms of an Equipment Requirements Agreement with QUALCOMM (the "Equipment Agreement"), the Company agreed, under certain conditions, to purchase up to approximately 50% (calculated on a per POP basis) of its infrastructure equipment needs. The Equipment Agreement further states that QUALCOMM will offer 100% equipment financing for equipment purchased from QUALCOMM under such agreement. Equipment to be provided by QUALCOMM under the Equipment Agreement will be bid in a competitive process involving other
equipment vendors. The terms of any equipment purchases will be established in a further agreement to be negotiated in good faith by the parties."
"The Company intends to offer wide area mobility service in
certain of the Markets, including New York City, Los Angeles/San Diego, Washington, D.C./Baltimore, Boston and Houston, by the end of 1997 and in the remaining Markets by the end of 1998. Prior to offering full coverage, NextWave intends to make available limited coverage service within approximately one year of the date of the FCC's license grants. This will allow the Company to offer
its resellers commercial-grade service in selected areas while the wide area mobility system is implemented."
"The Company is completing its initial radio engineering plans for deployment of CDMA systems in its New York City, Los Angeles/San Diego, Washington, D.C./Baltimore, Boston and Houston markets. The Company expects to complete its detailed design for all of its Markets by the fourth quarter of 1996."
"Over-the-Air Activation. This feature will allow consumers to purchase a shrink-wrapped handset "off the shelf" at a retail location and at their convenience, place the first call automatically to an activation center and have service initiated in a short period of time by programming the handset over the air. The Company believes over-the-air activation will reduce the resellers' cost of customer acquisition." |
