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

To: transmission who wrote (358)	6/4/1999 3:30:00 AM
From: SteveG	Read Replies (1) \| Respond to of 1860

Fwiw, I've established some recent FCC contacts, so will see if I can find an answer before I head east this weekend. And someone earlier mentioned (Bernard?) Triton equipment as not being likely involved (?). Note that the Herring article links ARTT funding syndicate leader Oak Partners as a backer of Triton, so this connection is not an unreasonable guess. redherring.com What I don't understand is if QWST and this syndicate are taking on the current risk and doing most of the necessary heavy lifting, why they would be willing to share the fruits of their labor with the existing shareholder base. I also wonder if ARTT will get the necessary 50% shareholder approval, since $8/share seems pretty low for a majority interest. I don't think this is a "shoe-in" by any means. Then there is the issue of new debt, which means existing bondholders will need to be convinced to allow senior debt ahead of them. One wonders if they will think Harry is up to the task - though perhaps they would be more comfortable with Nacchio in a more active role. Anyway, just thinking out loud, and still long. The 50% race is on - does WCII see $75 before ARTT sees $20? ARTT looked pretty strong today.

To: transmission who wrote (358)	6/4/1999 3:50:00 AM
From: SteveG	Respond to of 1860

WCII: MILLENNIUM II--FREE LD OR FREE WEB-HOSTING, AND IT'S ALL ON-NET--STRONG BUY Bankers Trust Research/BT Alex. Brown Research Bo Fifer,Jeffrey Hines June 03, 1999 --------------------------------------------------------------------------- ---- WINSTAR COMMUNICATIONS INC. [WCII] "STRONG BUY" Millennium II--Free LD Or Free Web-Hosting, And It's All On-Net --------------------------------------------------------------------------- ---- Date: 06/03/1999 EPS 1998A 1999E 2000E Price: 57.63 1Q (2.51) (3.72)A (3.10) 52-Wk Range: 58 - 10 2Q (2.77) (3.38) (2.99) Ann Dividend: 0.0 3Q (2.83) (3.18) (2.67) Ann Div Yld: 0.00% 4Q (3.80) (3.05) (2.41) Mkt Cap (mm): 4,459 FY(Dec.) (11.89) (13.34) (11.17) 3-Yr Growth: FY P/EPS NM NM NM CY EPS (11.89) (13.34) (11.17) Est. Changed No CY P/EPS NM NM NM --------------------------------------------------------------------------- ---- Industry: COMMUNICATIONS Shares Outstanding(Mil.): 77.378 Return On Equity (1998) : 0.0% --------------------------------------------------------------------------- ---- HIGHLIGHTS: --WinStar announced a major marketing program--Project Millennium II--this morning (3-Jun) as part of its continuing effort to drive on-net penetration and gross margin expansion. --A NEW MILLENNIUM: Recapping the original Millennium plan, customers who signed a three year contract with WinStar for local, long distance, and intra-LATA toll services received free local service for 1 year and approximately a 30% discount on services relative to their old provider. There are two flavors of Millennium II, which takes that same concept and applies it to different services for new customers who sign up between now and August: i. LONG-DISTANCE: Sign a three year deal for local, LD and intra-LATA toll services, receive 1 year of free long distance, both domestically and internationally (up to $35/line/month and just $0.089/minute thereafter) --OR-- ii. DATA: Sign a three year deal for Internet access and web hosting services and get 18 months of free web hosting. As with the original Millennium program, new customers must cover all installation costs (among other up-front fees designed to lower the cost of acquiring new subscribers), and Millennium II customers will receive "only" a 10% discount on services in the out years. --TAKING ADVANTAGE OF NEW NETWORKS: Clearly, without the deal WinStar struck with Williams in December of last year to acquire their "own" nationwide long distance network, this program would not be feasible. The consistent theme among Millennium programs is driving on-net penetration. The new deal is offered only to customers in all 2,000- plus buildings on the WinStar network (which makes them by definition on- net, and growing to 4,000-plus by YE 1999), while domestic LD traffic will now run across the Company's new LD network as well. WinStar is also taking advantage of its growing capacity for web-hosting services, and recently announced the opening of its third major data center to handle incremental web-hosting traffic. --NO CHANGE TO MODEL...YET: We recently raised our long-term forecast of on-net line growth to 90% of total lines growth, partially in anticipation of new Millennium programs, so we are not changing our forecasts at this time. Millennium II does create the opportunity for upside in terms of access line growth in 2H 1999 (we expect 0.075M and 0.085M net access line additions in 3Q and 4Q, respectively), and in terms of data revenue (where we acknowledge an overly conservative position in our model today). Additionally, Millennium II increases our confidence further that WinStar can reach 40% gross margins by YE 1999. --NET-NET: Millennium II is the just the second of what we believe will be long series of creative marketing programs designed to take advantage of WinStar's growing footprint and drive on-net penetration, while highlighting the Company's expanding focus on Internet services. We are not making any material changes to our model post this announcement, while acknowledging that our data revenue forecasts are becoming increasingly conservative. We are maintaining our DCF-derived 12-month price objective of $69/share and "strong buy" rating. --MARK YOUR CALENDARS: WinStar is a welcome late addition to the BTAB (or should we say Deutsche Banc Alex. Brown) Telecom/Media Conference in NYC on Tuesday, June 8, at 4:00 pm EST.

To: transmission who wrote (358)	6/4/1999 11:01:00 AM
From: wonk	Respond to of 1860

...Again believe thread could benefit from an anonymous FCC lawyer participating as have heard some say that 3 year period runs from when license issued after full payment which is at least some time off for reauctioned ones. Here is the pertinent section from the Second Report and Order, Order on Reconsideration, and Fifth Notice of Proposed Rulemaking Adopted: March 11, 1997: 437. IT IS FURTHER ORDERED that the Commission's Rules ARE AMENDED as set forth in Appendix A, effective 60 days after publication of this Order in the Federal Register. fcc.gov The Rules for the eligibility restrictions were contained in the appendix. best regards, ww