Nucentrix Broadband Networks said Thurs. that Nextel was the winn...
Nucentrix Broadband Networks said Thurs. that Nextel was the winner in a bankruptcy court auction for its Multipoint Distribution Service (MDS) and Multichannel Multipoint Distribution Service (MMDS) licenses and other assets for $51 million. In July, Nextel also had…
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won approval in a separate bankruptcy court for the MMDS and MDS spectrum of WorldCom for $144 million. Nucentrix said Nextel Spectrum Acquisition Corp. emerged the winner after a 2-day auction. The sale also includes certain spectrum and tower leases. The deal is subject to bankruptcy court approval. The proposed acquisition would increase Nextel’s fixed wireless holdings significantly because Nucentrix is the 3rd-largest holder of MMDS and ITFS spectrum in the U.S. Nucentrix said it held the rights to an average of 128 MHz of MDS, MMDS and ITFS spectrum covering 8.2 million households in more than 90 mostly medium and small markets in Tex., Okla. and the Midwest. The company said Nextel agreed to provide financing to fund Nucentrix’s operations as a debtor in possession under the bankruptcy code through the closing of the bankruptcy proceedings, expected in the 2nd or 3rd quarter of 2004.