FCC Measure Out of Spending Bill
Oh my, Nextwave may be surfing again...........deals are bieng made.
Caxton
WASHINGTON (AP) _ A measure that would have prevented communications licenses from being tied up in bankruptcy court has been taken out of a massive year-end spending bill.
The Federal Communications Commission and the White House had sought the measure, which would have permitted the federal government to quickly reclaim licenses that haven't been paid for and wind up in bankruptcy court.
The spending bill is headed for final action by Congresss.
The top three bidders in an airwaves auction two years ago _ NextWave Telecom, General Wireless and Pocket Communications _ all have filed for bankruptcy protection.
All three companies had opposed the FCC-sought measure because it would take away their biggest asset, the licenses, telecommunications lobbyists said, speaking on condition of anonymity.
Some lawmakers, including Rep. Billy Tauzin, R-La., also opposed including the provision in the spending bill, arguing that it had not been debated adequately.
Companies in the airwaves auction, which was reserved for small businesses, had pledged $10.2 billion for licenses for the next generation of wireless communications, known as PCS.
Later, some of companies said they couldn't pay for the licenses and asked the government for relief. The government is expected to receive only a fraction of the original amount pledged. |
