WHITE PLAINS, N.Y.—NextWave Telecom Inc. has reached an agreement with the federal government to relinquish its PCS licenses to the government, but the documents have not yet been signed, NextWave attorney Deborah Schrier-Rape told U.S. Bankrutpcy Court Judge Adlai Hardin today.
Signatures and details of the agreement might come within the next day or two, Schreier-Rape said. Then, within the next week or two, NextWave plans to file a motion requesting court approval for an official plan of reorganization.
As part of the deal with the government, NextWave will transfer its C- and F-block licenses to the Federal Communications Commission, which would then administer the grant process to carriers that won licenses in the re-auction.
Congress must pass legislation in order for the deal to become final, which could happen by the end of calendar year, Schrier-Rape said.
