CellularVision (CVUS): 2-way LMDS wireless cable. Message Board

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Technology Stocks : CellularVision (CVUS): 2-way LMDS wireless cable.

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To: James Fink who wrote (1169)	2/18/1998 7:56:00 AM
From: EdR	Read Replies (1) of 2063

James, Could it be that the following caused the downturn? Ed... ------------------------------------------- February 17, 1998 10:06pm Reuters WASHINGTON, Feb 17 (Reuters) - A small company seeking to bid on valuable airwave licenses filed suit against the Federal Communications Commission on Tuesday to delay the agency's scheduled spectrum auction. The FCC said it responded to the filing by privately held Webcell Communications Inc and planned to start accepting bids at 0900 EST/1400 GMT on Wednesday unless a court blocked the auction. The agency turned down Webcell's application to participate in the auction for LMDS spectrum after the firm failed to make required upfront payments at the beginning of the month. The agency had already agreed to delay the auction, originally slated to begin in December, for three months after Webcell and other small firms interested in making bids said they were having difficulty attracting investors. The FCC tightened its auction rules after several high-profile start-up firms won expensive personal communications services licenses in 1996 and then went bankrupt. For Wednesday's LMDS auction, companies had to make partial up-front payments and would have to pay for any licenses they win immediately. PCS license winner were allowed to pay over long-term installment plans. ((--Aaron Pressman, Washington newsroom, 202-898-8312))

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