HAWTHORNE, New York, United States—NextWave Telecom has been granted a motion to delay its disclosure statement hearing until 22 October, at which time the company will ask for approval of the disclosure statement for its pending plan of reorganization, filed 6 August. In addition, NextWave’s retention of UBS Warburg as its financial adviser and the company’s US$2.5 billion UBS credit facility have been approved.
NextWave meanwhile said it has a financial duty to participate in talks with regulators and wireless competitors about the disputed licenses. “Although the issues are complex, and the outcome uncertain, we have a fiduciary responsibility to explore opportunities that could lead to a successful resolution of these issues,” said Allen Salmasi, NextWave chief executive.
