Judge OKs NextWave Settlement With FCC
From Bloomberg News
NextWave Telecom Inc. won approval of a settlement with U.S. regulators that resolves a six-year dispute over a $4.3-billion debt for airwave licenses purchased at government auctions.
NextWave last month agreed to return most of its spectrum licenses to the Federal Communications Commission and either give back other airwave rights or pay $386 million out of proceeds from their sale.
The accord, approved at a hearing by Bankruptcy Court Judge Adlai S. Hardin Jr. in White Plains, N.Y., gives mobile carriers another opportunity to buy the licenses.
Shares of NextWave rose 10 cents to $5.50 in over-the-counter trading.
