Group of thwarted PCS license winners in FCC’s Jan. re- auction o...

as part of settlement, which isn’t final. NextWave originally bid $4.7 billion for 90 licenses in 1996. Re-auction of licenses, which FCC had cancelled for missed payment, brought $16.9 billion in Jan., of which $15.8 billion was for spectrum once belonging to NextWave. In July, 5 of largest re-auction winners, Alaska Native Wireless, Dobson Communications, Salmon PCS, Verizon Wireless and VoiceStream asked govt. to approve “immediate” settlement of NextWave licenses, with starting point for talks set at $4-$5 billion. That plan would have taken part of money due from winning re-auction bidders and paid it directly to NextWave in return for its dismissing its claims to licenses. Rest of money would go to federal govt. Wall St. Journal said NextWave could receive up to $11 billion from draft settlement, although actual number in play appeared to be lower than that. “Consistent with its corporate responsibilities, it has always been NextWave’s policy to explore ideas that might lead to a consensual resolution of existing issues and allow the company to complete pending bankruptcy proceedings, and we will continue to fulfill that responsibility,” NextWave Senior Vp Michael Wack said Fri. One source said Fri. that reports of settlement talks had surfaced within days of FCC’s asking for additional time beyond Sept. 19 deadline to seek review of U.S. Appeals Court, D.C., decision that had overturned Commission’s license cancellation decision in NextWave case. Chief Justice William Rehnquist has given govt. until Oct. 19 to file petition for certiorari (CD Sept 19 p2).