NextWave to give licenses to FCC for auction

Apr 21 2004 - 09:37 AM ET |
NextWave Telecom reached a deal with federal regulators about what to do with spectrum licenses. The company, which is currently in bankruptycy protection, will give most (90%) of its licenses to the FCC. They will then be up for grabs at auction, likely going to carriers wanting to expand data services. The original price tag was $4.8 billion, but they have been valued as high as $15.9 billion.