Newsbrief by Dan Seifert on Thursday August 02, 2012.
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AT&T announced today that it has agreed to purchase NextWave Wireless. NextWave owns licenses to spectrum in the Wireless Communication Services (WCS) and Advanced Wireless Services (AWS) bands, which AT&T plans to use for its 4G LTE network. AT&T has already petitioned the Federal Communications Commission for permission to use the 2.3GHz WCS spectrum for LTE. This 2.3GHz WCS spectrum is currently used for satellite radio services. The FCC has yet to approve AT&T's request. As part of the transaction with NextWave, AT&T will acquire all of the company's equity for $25 million, plus a contingent payment of another $25 million. Additionally, AT&T will acquire all of NextWave's outstanding debt, worth a total of $600 million. The purchase is subject to review by the FCC and other regulatory bodies.source: AT&T