Nextel Receives Nationwide Spectrum in the 1900MHz Band

[Barry]

The Federal Communications Commission voted 5-0 on July 8th for a plan in which Nextel would receive airwaves in the 1.9 Gigahertz band, which the FCC has valued at 4.8 billion, in exchange for returning other airwaves, including in the 800 Megahertz band where public safety groups operate worth $1.6 billion. Nextel will also pay an estimated $2.5 billion to public safety organizations to cover the costs of a spectrum re-organization.

Nextel will be forced to pay the public safety relocation costs even if they are higher. If Nextel's total costs are lower than $4.8 billion, Nextel will pay the government the difference.

Nextel will also have to establish a $2.5 billion letter of credit to cover costs incurred by public safety groups whose operations will be reorganized in the 800 MHz band,.

_________________
Start Posting for Cool Prizes!