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Thursday, July 24, 2008 --- 45 days ago http://www.fiercewireless.com/story/nextwave-offloads-aws-spectrum/2008-07-24?ut
| NextWave Wireless offloaded a large swathe of spectrum, signing agreements with four operators to sell a portion of its AWS license portfolio. The sale represents 63 percent of its total AWS megahertz-pops, for a total of $150.1 million. According to the company's 8-K filing with the SEC, AWS Wireless, the wholly owned subsidiary of NextWave, agreed to sell certain AWS licenses to T-Mobile for $97.5 million. The geographic areas covered by the licenses include markets in: Pennsylvania, Maryland, Delaware, Virginia, West Virginia, Kentucky, Ohio, Tennessee, Georgia, North Carolina, Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Oklahoma, Kansas, California, Puerto Rico and the U.S. Virgin Islands. The company also entered into separate agreements to sell certain parts of its AWS licenses to each of Atlantic Wireless, ACS (Alaska) Wireless and MetroPCS. NextWave is selling AWS licenses to Atlantic, Alaska and MetroPCS for an aggregate consideration of $52.6 million. The geographic areas covered by the licenses include markets in Indiana, Kentucky, Illinois, Ohio, Alaska, Georgia and Florida. In all, the agreements call for NextWave to sell 599 million MHZ-pops of AWS spectrum at an average price of $0.25 per MHZ-pop. Pursuant to the terms of NextWave's 7 percent Senior Secured Notes, $75 million of the proceeds from the sale will be deposited into a restricted cash collateral account and $75 million will be used to ... |
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