AT&T Hopes to Acquire NextWave Wireless for Spectrum

AT&T Hopes to Acquire NextWave Wireless for Spectrum:
AT&T today announced that it has agreed to acquire NextWave Wireless. NextWave wireless holds various spectrum licenses, including some in the AWS 1700MHz band and some in the Wireless Communication Services (WCS) band. The WCS band spectrum is adjacent to satellite radio spectrum and has remained fallow due to interference concerns. AT&T and Sirius XM proposed a work-around to the Federal Communications Commission earlier this year that would alleviate those concerns and open the WCS spectrum up for mobile broadband use. The deal includes two separate $25 million payments to NextWave and a $600 million payout to NextWave's creditors. The total purchase price is $600 million. The deal is subject to federal regulatory approval and AT&T expects the deal to close by the end of the year