The US Supreme Court ruled that bankrupt NextWave does not have to forfeit wireless licenses that it had previously won at auction, despite the company's lack of payment. The Federal Communications Commission (FCC) had tried to repossess the licenses. In a statement, FCC Chairman Michael Powell said that the FCC is in the process of examining all of the ramifications of the Court's decision and will faithfully implement the Court's mandate.
http://www.fcc.gov
- The decision ends five years of litigation over the licenses. NextWave said it would move as quickly as possible to complete its capital reorganization and put the spectrum into use.
