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Technology Stocks : Nextwave Telecom Inc. -- Ignore unavailable to you. Want to Upgrade?

To: JGoren who wrote (268)	1/12/2000 3:46:00 PM
From: waitwatchwander	Read Replies (1) \| Respond to of 1088

FOR IMMEDIATE RELEASE: January 12, 2000 FCC Informs Court That NextWave Licenses Have Cancelled and Sets Date for Auction Washington, DC -- Today the FCC filed objections to NextWave's modified plan of reorganization in the Bankruptcy Court. In the filing, the FCC stated that pursuant to FCC rules, NextWave's licenses have cancelled. The FCC also issued a Public Notice announcing that these licenses will be part of a July 26, 2000, C and F Block Broadband PCS auction. In response to these actions, FCC Chairman William E. Kennard stated,“The Second Circuit's ruling has confirmed the FCC's authority over these licenses. To ensure swift service to the public, our rules require that C Block licenses cancel when a licensee fails to pay its obligations on time. Allowing a company to keep its licenses despite its failure to pay on time would be unfair to others who played by the rules and would undermine the integrity of our auctions process. This spectrum has laid fallow for too long. Now it is time to act swiftly to auction this spectrum and put it to productive use for U.S. consumers.” Attached is a copy of the FCC's filing and Public Notice.- FCC -22 News media Information 202 / 418-0500 Fax-On-Demand 202 / 418-2830 TTY 202/418-2555 Internet: fcc.gov ftp.fcc.govFederal Communications Commission 445 12th Street, S.W.Washington, D. C. 20554 This is an unofficial announcement of Commission action. Release of the full text of a Commission order constitutes official action. See MCI v. FCC. 515 F 2d 385 (D.C. Circ 1974). ------------------------------------------ JGoren, What is the status of the licences of the other C Block company (Powertel?) that got a bankruptcy court to reduce their costs?