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Technology Stocks : Winstar Comm. (WCII)
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To: Steven Bowen who wrote (10048)1/19/1999 3:24:00 AM
From: Zorro  Read Replies (1) of 12468
 
Steven,

There is a very simple reason for the apparent lack of competition between WNP and NextBand in the LMDS auction. As you know, the total upfront payment defined the maximum amount of bidding units on which each applicant was permitted to bid. These were $80.4M and $30.2M for WNP and NextBand, respectively. Also note that the sum of the WNP and NextBand bidding units only amount to about half of the bidding credits required to be eligible to bid for ALL the A-block licenses ($186M) and ALL the B-block licenses ($19.4M). To further put the top markets into perspective, eligibility just to bid for the A-block license in LA required $13M (which accounted for almost 1/2 of NextBand's bidding credits). WNP, on the other hand, had the muscle to pursue most of the top markets with little or no challenge.

Z
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