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NextWave Telecom Inc., a wireless phone company, said it will receive $1.6 billion from Los Angeles-based Global Crossing Ltd., AT&T; Corp.’s Liberty Media Group and others that may let it emerge from bankruptcy. The funding could allow New York-based NextWave to retain wireless licenses being sought by Nextel Communications Inc. and other companies. Additional investors include Pacific Capital Group, which is controlled by Global Crossing Chairman Gary Winnick, and investment firm Texas Pacific Group. NextWave’s licenses would let wireless providers accommodate rapid growth in customers and minutes of use, and offer new services, such as high-speed wireless Internet access. NextWave bid $4.8 billion for the licenses at a 1996 government auction. A federal bankruptcy judge later reduced that obligation to just over $1 billion; NextWave had paid about $500 million toward the licenses when it filed for bankruptcy in December 1998.

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Xerox Corp. Chief Executive Rick Thoman said the company will create a new division that will solicit venture capital to help it spin off new technologies as separate businesses. Thoman, speaking from Paris, said the Stamford, Conn.-based company plans to announce the new division in the next few days. Xerox also said it named Herve Gallaire as senior vice president for research and technology, the company’s highest-ranking technologist. Xerox stock fell 38 cents to $21.75 on the NYSE.

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Barnesandnoble.com Inc. said it will acquire a stake in closely held Enews.com, the largest seller of magazine subscriptions on the Internet, as it adds products to compete with bigger rival Amazon.com Inc. Barnesandnoble.com, which is owned by Barnes & Noble Inc. and Bertelsmann, will buy about 32% of Enews.com for an unspecified amount of cash and stock.