By Evan Koblentz
Thursday, July 24, 2008
NextWave Wireless recently sold 63% of its Advanced Wireless Services (AWS) spectrum for $150.1 million, the company said today. The buyers were T-Mobile, MetroPCS, ACS Wireless and Atlantic Wireless.
“Subject to approval by the FCC, the agreements call for NextWave to sell 599 million MHz-pops of AWS spectrum at an average price of $0.25,” NextWave said. “After the sale, the company will possess 348 million MHz-pops of AWS spectrum primarily in New England, Florida and California. NextWave acquired all of its AWS licenses for a total of $115.5 million, or $0.12 per MHz-pop, at an FCC auction held in 2006,” the company explained.
“We will continue to monetize our remaining spectrum assets in the United States and are working with Deutsche Bank and UBS Investment Bank to achieve our spectrum sale objectives,” said CEO Allen Salmasi, in a statement today.
The company also owns spectrum in Canada, Europe and South America. Its spectrum sale plans were first announced in April this year.
Not surprisingly, NextWave’s stock rose significantly in the past few days as talk of the company’s good fortune spread, independent analyst Anton Wahlman wrote today.