NextWave Tells Judge Settlement Is Near

NextWave Telecom Inc. said it’s close to settling a $16-billion dispute with the U.S. government about mobile-phone airwaves controlled by the company and sought by carriers such as Verizon Wireless Inc.

Deborah Schrier-Rape, a NextWave lawyer, didn’t outline the terms during an appearance in Bankruptcy Court. Under a proposed agreement, NextWave would ultimately get about$5 billion, the U.S. as much as $11 billion and wireless carriers would get the airwaves, people familiar with the talks have said.

Company lawyers asked Bankruptcy Judge Adlai S. Hardin Jr. for another hearing Thursday at which it would present a final settlement that will resolve a five-year fight about control of the spectrum. Final issues are being worked out.

“There is a framework for the resolution of the dispute with the government in place,” Schrier-Rape said.

Shares of Hawthorne, N.Y.-based NextWave fell 25 cents to $11.80, in over-the-counter trading.