AT&T seeks more spectrum with NextWave Wireless takeover

News Wireless United States 2 AUG 2012
AT&T seeks more spectrum with NextWave Wireless takeover
AT&T announced an agreement to buy NextWave Wireless to gain access to more spectrum. NextWave is a holding company for frequency licences in the Wireless Communication Services and Advanced Wireless Service bands. AT&T is hoping a proposed change to FCC rules, which to date have limited the use of the spectrum due to possible interference with adjoining bands used for satellite radio, will allow it convert the spectrum to develop its mobile broadband services. In June, AT&T and Sirius XM filed a joint proposal with the FCC to change the rules. If approved, the proposal will enable AT&T to begin initial deployment of WCS spectrum for added LTE capacity within three years. AT&T has agreed to pay USD 25 million for NextWave's equity, plus a contingent payment of up to USD 25 million, as well as acquire NextWave's debt for USD 600 million cash. The debt will be settled for cash and some of NextWave's assets. NextWave's debtholders have agreed to the terms, and a majority of its shareholders have agreed to support the transaction; FCC approval is still required. AT&T aims to close the deal by the end of 2012.

Categories:

Mobile

Companies:

FCC,  NextWave Wireless

Countries:

United States

Tags:

Government telecommunications licensing, Wireless, Wholesale, M&A buyouts & divestments

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