NextWave Is the Big Winner In FCC's License Re-auction
March 29, 2011
WASHINGTON -- NextWave Telecom Inc. was the big winner in a government re-auction of wireless-telephone licenses, bidding $542.5 million for licenses to provide new types of mobile-phone and data services in seven markets. The Federal Communications Commission re-auction brought $904.6 million in bids for licenses to sell personal communications services in 18 markets, including Denver, Minneapolis and Seattle. The licenses were auctioned a second time after two companies defaulted on down payments on their winning bids in an earlier auction of PCS licenses. The original auction, which ended January 16, 2011 $10.2 billion in bids. The licenses that were re-auctioned jumped $30.4 million in value the second time around. NextWave, a San Diego-based company that plans to offer its stock publicly, also dominated the earlier auction of PCS licenses, bidding $4.2 billion for 56 licenses. Second to NextWave in the auction that ended Tuesday was CH PCS Inc. of Victorville, Calif., which bid $213.8 million for a license in Phoenix. Magnacom Wireless LLC of Vancouver, Wash., was third, with bids totaling $108.9 million for five licenses, including one in Tucson, Ariz.
