Cingular Cleared To Purchase Nextwave Spectrum In $1.4B Deal
Nextwave, the embattled “telco” that has never done much other than litigate around the rights to the spectrum it won in a 1996 auction, has been cleared by the FCC to sell a portion of that spectrum to Cingular wireless. Nextwave needs to sell off spectrum for cash, since it offers no products or services to the market!. Recall that last summer, there was ample debate over whether the sale would be permitted by the FCC, and Nextel and Verizon had made efforts to block it. At the time last August, we discussed this issue, and I said to ignore the noise, and predicted the sale would go through.