IDT Spectrum Puts FCC License Holdings Up For Sale
Portfolio features 38 GHz and LMDS licenses
8:30 am EDT, Tuesday October 13, 2009
finance.yahoo.com
NEWARK, N.J.--(BUSINESS WIRE)--IDT Spectrum, a subsidiary of IDT Corporation (NYSE: IDT - News, IDT.C - News), said today that it is accepting offers for its portfolio of 38 GHz and 28-31 GHz spectrum licenses.
The IDT Spectrum portfolio includes nine hundred and thirty one 38 GHz (sometimes referred to as 39GHz) licenses and sixteen 28-31GHz Local Multipoint Distribution Service (LMDS) licenses with an average of 1,000 MHz of spectrum in the top 25 U.S. markets. In the New York City market alone, the portfolio includes an aggregate of 1,650 MHz of spectrum. Nationwide, the IDT Spectrum portfolio can support 4G and other bandwidth intensive technologies.
“Networks nationwide are straining to accommodate new bandwidth intensive applications. Our licenses enable scalable and cost effective wireless backhaul and last mile solutions,” said Michael Rapaport, President of IDT Spectrum.
The deadline for offers to be submitted is Thursday, November 12, 2009. For more information about the sale of the IDT Spectrum portfolio, interested parties should contact Michel G. Keating at McElroy, Deutsch, Mulvaney and Carpenter, LLC., (P: 201-493-3702; E: mkeating@mdmc-law.com.)
About IDT Spectrum:
IDT Spectrum, a subsidiary of IDT Corporation, holds and leases fixed wireless spectrum. Please visit our website at www.idtspectrum.com for additional information.
About IDT Corporation:
IDT Corporation (www.idt.net) is a consumer services company with operations primarily in the telecommunications and energy industries. IDT Corporation's Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively. |
