NEWS on business wire tonight :
Friday November 27, 8:01 pm Eastern Time
Company Press Release
World Wide Wireless Communications, Inc. and
Shekinah Network Announce Execution of Lease for
Excess Capacity on 40 ITFS Systems Nationwide
SAN FRANCISCO--(BUSINESS WIRE)--Nov. 27, 1998--World Wide Wireless Communications, Inc (OTC BB:WLGS
- news) and Shekinah Network announced today their agreement under which Shekinah has granted to WLGS an exclusive
and irrevocable option to lease, and potentially purchase, excess capacity on some 40 ITFS channels owned by Shekinah.
The acquisition of this additional channel capacity by WLGS greatly expands its ability to provide high speed wireless internet
capabilities.
Under the terms of the Agreement, WLGS may immediately commence operations in eight locations, including such places as
Grand Rapids, Key West, Aspen, and Vail among others. The remaining 32 channels are expected to become available to
WLGS over the next several years.
The expansion of in the number channels controlled by WLGS from three to as many as forty-three establishes the company as
one of the leaders in the high-speed wireless internet industry. The company has already commenced high-speed wireless
internet operations from Mt. Diablo, in the East Bay area of San Francisco, and plans to rapidly expand its operations to other
sites as well. WLGS will next commence operations on its pre-existing licenses in northern San Diego county, California and
South Bend, Indiana. It is expected latter operations will commence coincidentally with those in nearby Grand Rapids,
Michigan.
In addition to the lease of excess airtime on the 40 channels, the agreement also provides WLGS with the option, upon
approval from the Federal Communications Commission, to purchase the channels for an price of $150,000 per channel or
$3,500,000 for the entire system.
Within the past two weeks, WLGS announced the establishment of its European affiliate, World Wide Wireless-Europa.
Today's announcement of the significant expansion of the domestic WLGS network further confirms the company's intentions of
becoming a major global provider of high speed wireless internet services.
Contact:
World Wide Wireless Communications, Inc.
Douglas Haffer, 415/956-9190
Kenn Olson, 949/574-1979
More Quotes and News:
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Related News Categories: computers, internet, telecom |
