DALLAS-The PCS Group announced it has formed The PCS Finance Group to meet the demand for financing in the personal communications service market.
“Over a year ago, we recognized that the high prices for the purchase of PCS spectrum and the large sums of money committed by the A- and B-block licensees to build their systems would result in a tremendous shortfall of available funds for the C- and F-block licensees to deploy their operating systems,” said Brian J. Friedman, president of the PCS Group. “Based upon that need, and what we were hearing from C-block participants, we knew that someone had to step forward with creative solutions to the financing shortfall.”
The initial focus of the new group will be the PCS segment of the wireless industry. It is accepting applications for infrastructure equipment financing from license winners of recent Federal Communications Commission auctions.
The company said it plans to expand into other segments of the wireless market once the initial round of PCS financing is completed.
C. Jackson Pfeffer, formerly the chief executive officer of The Management Team consulting firm, was named president of the new unit, and Barry M. Krause, an experienced banker, was named chief financial officer.
The PCS Group was founded in 1993 to assist with system development and implementation, infrastructure equipment, marketing and brokerage services and value added products for the PCS market.
