NextWave out of Chapter 11

Apr 13 2005 - 12:44 PM ET | Data
NextWave is officially free of Chapter 11 bankruptcy protection. Its $3 billion sale of PCS licenses to Verizon Wireless has been completed, giving the company enough cash to settle its debts. The company has been re-organized under the name Nextwave Wireless LLC. Next up for NextWave is providing 4G wireless services. The dual-use (government and consumer) network will attempt to take market share from EV-DO, the leading high-speed wireless technology. bq. The company's initial steps include a commercial launch of broadband wireless operations in Las Vegas, Nevada, and in New York City.