Verizon Partner Bids for NextWave Licenses

A business partner of Verizon Wireless has offered NextWave Telecom Inc. just over $3 billion for portions of wireless licenses that a court returned to bankrupt NextWave, a Verizon spokesman confirmed.

The offer, made by Valley Communications of Florida, is for parts of 50 licenses covering key markets including Boston, Los Angeles, New York, Seattle, Pittsburgh, Minneapolis and Indianapolis, the spokesman said.

The offer is the latest development in the wrangling over the licenses that were first won by NextWave in the late 1990s but repossessed by the government after the company failed to make timely payments.

NextWave said it will file its reorganization plan with the Bankruptcy Court in New York on Monday.

“Along the way, many companies have expressed interest in investing in us, forming strategic alliances, and joint venturing. We’ve listened to everyone,” said Michael Wack, deputy general counsel for the company.