NextWave to re-auction 10 MHz in NYC for nearly $1 billion

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Who wants 10 MHz additional spectrum in New York City? More
pointedly, who does not want 10 MHz additional spectrum in NYC?!

If only you -- or perhaps your wireless carrier -- have at least $930
million in spare cash lying around, next month you can acquire 10 MHz
of prime PCS spectrum in the New York, NY BTA321. NextWave is seeking
bankruptcy court & FCC permission to internally re-auction --
alongside five other lesser 10 MHz BTA licenses -- a PCS C3 10 MHz
disaggregation from its immensely valuable PCS C 30 MHz license in the
NYC BTA.

http://www.nextwavetel.com/

See page 33 of the "NextWave Auction Motion"...

Andrew
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In alt.cellular.sprintpcs Andrew Shepherd <cinema@ku.edu> wrote:
> Who wants 10 MHz additional spectrum in New York City? More
> pointedly, who does not want 10 MHz additional spectrum in NYC?!

From what I've been reading in a.c.v, Verizon could use some additional
network capacity in NYC...

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In <uomdnTot6dqXRVjdRVn-gg@lmi.net> Steven J Sobol <sjsobol@JustThe.net> writes:

>In alt.cellular.sprintpcs Andrew Shepherd <cinema@ku.edu> wrote:
>> Who wants 10 MHz additional spectrum in New York City? More
>> pointedly, who does not want 10 MHz additional spectrum in NYC?!
>
>From what I've been reading in a.c.v, Verizon could use some additional
>network capacity in NYC...

It would be oh, so appropriate, if no one bids on these. The NextWave saga
ranks only a few notches above Enron in the smell test.

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On Tue, 08 Jun 2004 10:15:22 -0500, Steven J Sobol
<sjsobol@JustThe.net> wrote:

>In alt.cellular.sprintpcs Andrew Shepherd <cinema@ku.edu> wrote:
>> Who wants 10 MHz additional spectrum in New York City? More
>> pointedly, who does not want 10 MHz additional spectrum in NYC?!
>
>From what I've been reading in a.c.v, Verizon could use some additional
>network capacity in NYC...

They have it already. The 1900MHz system in the NJ/NYC area gets
turned on around Aug/Sept. They need it for EVDO
 
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"danny burstein" <dannyb@panix.com> wrote in message
news:ca4q0t$2f4$1@reader2.panix.com...
>> It would be oh, so appropriate, if no one bids on these. The NextWave
saga
> ranks only a few notches above Enron in the smell test.

Don't even get me started. I just want to know who paid the judge in this
case.

8-(


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George O'Hare <bxricanb34oi@aol.com> wrote in message news:<p30cc0dps39obcc0i6mjunkd9dqd8p5n1b@4ax.com>...
> On Tue, 08 Jun 2004 10:15:22 -0500, Steven J Sobol
> <sjsobol@JustThe.net> wrote:
>
> >
> >From what I've been reading in a.c.v, Verizon could use some additional
> >network capacity in NYC...
>
> They have it already. The 1900MHz system in the NJ/NYC area gets
> turned on around Aug/Sept. They need it for EVDO

As George correctly notes, VZW a little over a year ago purchased the
Northcoast PCS PCS F 10 MHz license for the NYC BTA.

http://wireless2.fcc.gov/UlsApp/UlsSearch/license.jsp?licKey=10433

In NYC, the spectrum profile is as follows:

AT&TWS: Cellular A-side 25 MHz + PCS E 10 MHz = 35 MHz
VZW: Cellular B-side 25 MHz + PCS F 10 MHz = 35 MHz
T-Mobile: PCS A-A3 20 MHz + PCS D 10 MHz = 30 MHz
Sprint PCS: PCS B 30 MHz
NextWave: PCS C 30 MHz
Cingular: PCS A3 10 MHz

Aside from Cingular -- which has utilized its 10 MHz disaggregation
from T-Mobile toward the network-sharing arrangement between the two
carriers -- parity marks spectrum assessment in NYC. No one carrier
has a dominant share.

Andrew
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danny burstein <dannyb@panix.com> wrote in message news:<ca4q0t$2f4$1@reader2.panix.com>...
>
> It would be oh, so appropriate, if no one bids on these. The NextWave saga
> ranks only a few notches above Enron in the smell test.

There is some unfortunate truth to your statement. Despite a majority
of the proceeds going to the FCC & other creditors, NextWave will
still profit immensely from the continued leveraged divestment of its
spectrum assets, if simply because wireless spectrum is a finite
resource, hence inflatedly valuable. Though quite possible that
NextWave may never construct its proposed cdma2000 or TD-CDMA
broadband wireless network, financially NextWave will likely walk away
from this debacle smelling like roses. But lean a little bit closer,
see that roses really smell like poo-ooo-ooo... :)

Like it or not, however, someone will step up to the table for the
Denver, Portland (OR), Sarasota, Tampa, & Tulsa BTA licenses. As I
recall, the auction reserve prices for those license are all less than
$40 million.

As for a potential buyer for the NYC BTA PCS C3 10 MHz disaggregation,
I see it as a two-horse race -- VZW & Cingular. However, that is true
only if either or both horses decide to run, as the reserve of $930
million is exceedingly steep for a single 10 MHz PCS license.

At FCC Auction 4, SPCS' WirelessCo LP consortium paid about $443
million for the PCS B 30 MHz license for the entire multi-state NY
MTA. Comparatively, at FCC Auction 5 in 1996, NextWave paid $994
million for the full PCS C 30 MHz license for just the NYC BTA. And,
at FCC Auction 11 in 1997, for again the NYC BTA, the PCS D 10 MHz was
won by Omnipoint for a little bit less than $51 million, the PCS E 10
MHz was grabbed by AT&TWS for nearly $58 million. Interestingly the
closed-bidding entrepreneurial PCS F 10 MHz license for the NYC BTA
sold for an even higher price than either of the open-bidding licenses
-- slightly more than $75 million to Cablevision's Northcoast PCS.
The last was the highest price paid at auction for a 10 MHz PCS
license.

A more contemporary market precedent was set earlier this spring by
the Cingular acquistion of 34 10 MHz or 20 MHz PCS licenses from
NextWave. Included were 10 MHz disaggregations or full license
transfers in the LA, Chicago, San Franciso, Dallas, Houston, Boston, &
D.C. BTAs et al. Total purchase price was $1.4 billion.

http://people.ku.edu/~cinema/wireless/nextwave_map.html

By setting the reserve price of the NYC disaggregation at the rarefied
level of $930 million -- only $64 million less than NextWave
originally paid for the entire 30 MHz license! -- which in turn was
itself the largest sum ever bid for a single PCS license at FCC
auction -- NextWave is hedging its bet. View it as an indication that
NextWave is somewhat ambivalent about parting w/ a third of its most
valuable asset. After all, that idle PCS C 30 MHz license in arguably
the most important market in the world has singularly made NextWave
relevant, impossible to ignore. Thus, NextWave will only sell the NYC
10 MHz if it can receive an astonishing premium for the spectrum.
And, as such, the NYC license may very well not sell.

Andrew
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cinema@ku.edu
cinema@sprintpcs.com
http://www.wirelesswavelength.com/
 
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"Donald Newcomb" <DRNewcomb@attglobal.NOT.net> wrote in message
news:40c68afb$1_3@news1.prserv.net...
>
> "danny burstein" <dannyb@panix.com> wrote in message
> news:ca4q0t$2f4$1@reader2.panix.com...
> >> It would be oh, so appropriate, if no one bids on these. The NextWave
> saga
> > ranks only a few notches above Enron in the smell test.
>
> Don't even get me started. I just want to know who paid the judge in this
> case.
>
> 8-(

If you want a big-picture answer, you and I did.


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Andrew,
I don't see too many buyers at the door unless someone has a need to feed a
big ego. Buyers were very scarce when Qwest tried to sell their 10 MHz of
spectrum across 14 states including more cities than the Nextwave spectrum
involves. They couldn't even sell it in pieces, or just the spectrum. The
whole network could have been had for less than $2 Billion. It seems as
though there were no takers at any reasonable price.

While the two top markets (NYC & L.A.) could profitably utilize the
spectrum, there is a limit on the price. Verizon has already offered $5
Billion for the potential 1900 MHz spectrum that the FCC might offer to
Nextel, for nationwide spectrum. I can't see anyone paying 20% of that
amount for just one market.

Bill Radio
Click for Western U.S. Wireless Reviews at:
http://www.mountainwireless.com


"Andrew Shepherd" <cinema@ku.edu> wrote in message
news:33e89561.0406090208.3d231d44@posting.google.com...

> Thus, NextWave will only sell the NYC
> 10 MHz if it can receive an astonishing premium for the spectrum.
> And, as such, the NYC license may very well not sell.
>