WASHINGTON—Both the Federal Communications Commission and Verizon Wireless Inc. warned late Tuesday that if Congress does not pass legislation codifying the settlement of bankrupt NextWave Telecom Inc., they would walk away from future negotiations.
After he appeared before the House telecom subcommittee, FCC Chairman Michael Powell told reporters that if Congress does not approve the deal soon, he would need to change his posture and become a litigant as the Supreme Court circ petition process moves forward.
Dennis Strigl, Verizon Wireless’ chief executive, said his company could use the $8.8 billion it bid for NextWave’s licenses on other projects and it would have to begin looking at those options after Jan. 1 if legislation does not pass.
House telecom subcommittee members questioned the deal Tuesday, but generally appeared supportive of what many consider to the best the possible option to resolve the dispute over NextWave’s C-block licenses.
