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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..] -- Ignore unavailable to you. Want to Upgrade?

To: MangoBoy who wrote (110)	4/27/1999 8:40:00 PM
From: MangoBoy	Read Replies (2) \| Respond to of 1860

[NEXTLINK Closes WNP Acquisition; Becomes Largest Holder of Fixed Wireless Spectrum in North America] Leading next generation telecommunications company acquires another "first mile" broadband solution for customers BELLEVUE, Wash.--(BUSINESS WIRE)--April 27, 1999--NEXTLINK Communications, Inc. announced it has closed its transaction to acquire WNP Communications, Inc. for approximately $695 million in cash and stock. The acquisition gives NEXTLINK 39 A block LMDS (local multipoint distribution service) wireless licenses covering 98 million POPs and one B block LMDS wireless license covering 16 million POPs. LMDS is a fixed wireless transmission technology that provides integrated, two-way digital distribution of multimedia services using a combination of large, high-quality bandwidth similar to fiber optic cable, yet delivered via a small rooftop antenna. The company will use the licenses to build fixed wireless extensions to its local fiber optic networks planned to cover most major cities in the United States. "We're pleased to complete this acquisition and the assets are yet another broadband network option to offer 'first mile' voice and data services to our customers," said NEXTLINK Chairman and Chief Executive Officer Steve Hooper. "We believe the winners in the telecommunications services industry in the next century will be those companies that can provide end-to-end broadband services that start with the customer at the first mile connection." Telecommunications pioneer Craig McCaw founded NEXTLINK in 1994 to provide high quality communications services to businesses over fiber optic facilities and currently provides these services in 38 markets across the United States. NEXTLINK is the largest holder of fixed wireless spectrum in North America, with licenses covering 95% of the population in the top 30 markets in the United States. NEXTLINK's wireless capabilities will complement and extend the reach of the company's local fiber optic networks. Additionally, NEXTLINK has acquired exclusive rights to a 16,000 mile high-speed, IP-centric fiber optic backbone network that will connect over 50 cities in the United States and Canada when completed. Through this unrivaled collection of facilities, NEXTLINK will provide integrated, end-to-end telecommunications solutions to its customers.