BELLEVUE, Wash.-Advanced Radio Telecom Crop. announced it has entered into agreements to acquire 24 additional licenses in the 38 GHz band and has received new grants of seven other 38 GHz licenses directly from the Federal Communications Commission.
This brings ART’s total domestic licenses to 276, covering 206 markets and an estimated population of 175 million, said ART. ART also has nationwide licenses in the United Kingdom, Denmark, Norway and Sweden, covering a combined population of about 77 million people.
Of the 24 purchased licenses, ART will acquire 23 from Columbia Capital Corp. and Columbia Millimeter Communications L.P. for about 1.34 million shares of common stock recently registered for this purpose. The other license, which improved channel density in one of the top 50 markets, also is being acquired for common stock. The amount of stock will be determined at closing. Both transfers are subject to FCC approval.
