NextWave: Airwave Rich But Cash Poor

Back when NextWave was first rumored to be selling off some of its spectrum to Cingular (a deal that was completed last week) we remembered that part of the agreement that let NextWave take back its spectrum was that they actually do something with it, rather than sell it. Well, according to the NY Times, folks at NextWave really do plan on doing something with the spectrum. They're trying to build out a high-speed wireless data network, which they'll then let carriers use. Deals like the one with Cingular are just to finance the building of this network (and to pay off some of their insane debt). Many people are skeptical and think that NextWave is just saying this to keep creditors and judges off their back, but there's some evidence that they're really moving forward with building a high-speed wireless network.

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