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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: Bernard Levy who wrote (10076)	1/19/1999 10:18:00 PM
From: Steven Bowen	Read Replies (2) \| Respond to of 12468

Hi Bernard, "If I remember correctly, Baker Creek was turned in by a competitor." Yeah, by Nextband. "Actually, the main problem with Baker Creek is that it did not disclose its HYPT affiliation to the FCC." From the FCC; "Based on the record currently before us, we find no substantial evidence to indicate that Baker Creek has shown a lack of truthfulness or reliability in its dealings with the Commission. It appears that Baker Creek did not attempt to mislead the Commission about the relationship between itself, Hyperion and Adelphia in its application. Rather, the record indicates that Baker Creek fully disclosed its ownership structure and acted under the erroneous assumption that the structure comported with the requirements of the Commission's designated entity rules." They did use this ownership to reject Baker Creek's bidding credit. Also; "Because we conclude that Hyperion and Adelphia exert de facto control over Baker Creek, we find that Hyperion and Adelphia own an attributable interest in Baker Creek within the meaning of the Commissions LMDS eligibility rules. As a result, Baker Creek may not own an A block LMDS license which significantly overlaps any local exchange carrier (LEC) or cable company franchise service areas owned or controlled by either Adelphia or Hyperion." I don't know anything about Hyperion. Are they the ILEC in some markets? But it sounds like these overlaps are what caused the default on some licenses.