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Technology Stocks : CellularVision (CVUS): 2-way LMDS wireless cable. -- Ignore unavailable to you. Want to Upgrade?

To: James Fink who wrote (1014)	2/6/1998 10:08:00 AM
From: WTC	Read Replies (1) \| Respond to of 2063

Mr. Fink has it exactly right that CVUS does NOT have a PIONEER's Preference license in the NYC PMSA. I think this is the first time I have ever seen anyone get this right who is not directly connected with CVUS or the FCC! For clarity, we could add that they DO have a "Waiver License". OmniPoint et.al., learned how much more valuable a waiver license is compared to a Pioneer's preference when they had to pay a big percentage of the market value of their Pioneer's preference licenses to keep them. CVUS only had to invest years and years of corporate effort and millions of dollars in legal expenses in the hope of a favorable licensing outcome, which seemed quite speculative for a while, but finally concluded to their satisfaction. Many of us that were close observers of that extended, see-saw process concluded that CVUS and its predecessor companies certainly earned their NYC PMDS license. It did not fall off the back of a truck, as New Yorkers say. My understanding is that the rights that CVUS might have exploited as a discount to a bid price in the NYC BTA outside the PMSA (the crust of the pizza) would be properly called a Pioneer's Preference license. That now seems moot, but I have no understanding of the possibility of transferring that right to another bidder.