DALLAS-CAI Wireless Systems Inc., Heartland Wireless Communications Inc. and CS Wireless Systems Inc. announced a master agreement under which CAI acquired Heartland’s approximate 36-percent equity interest in CS Wireless.
CS Wireless and Heartland also agreed to exchange certain spectrum assets and equipment for cash consideration, cancellation of CS Wireless’ obligations on certain outstanding CS Wireless debt to Heartland and the mutual release of certain other claims.
The parties also agreed to cooperate in the timely filing with the Federal Communications Commission on developmental and permanent authority for two-way use of the parties’ respective microwave multipoint distribution system spectrum in contiguous and adjacent markets to allow full use of this spectrum for telephony, high-speed Internet access and other services.
The parties agreed to give the Dallas/Fort Worth market priority, where CS Wireless intends to file a developmental application in the near future.
