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July 24, 2008

NextWave Wireless says it is selling about 64 percent of its AWS (Advanced Wireless Services) spectrum for a little over $150.

NextWave says the buyers are MetroPCS, T-Mobile USA and ACS Wireless and Atlantic Wireless.

The company says “subject to the usual approval process by the FCC, the agreements call for NextWave to sell almost 600 million MHz-POPs (points-of-presence) of AWS spectrum at an average price of $0.25. After the sale, NextWave will possess 348 million MHz-pops of AWS spectrum primarily in New England, Florida and California.

The wireless operator acquired all of its AWS licenses for a total of $115.5 million, or $0.12 per MHz-pop, at an FCC auction held two years ago,” the company explained.

NextWave also owns some spectrum in Canada, Europe and South America.

Its wireless spectrum sale plans were first announced three months ago.

NextWave CEO Allen Salmasi said “we will continue to monetize our remaining spectrum assets in the U.S. and we are working with Deutsche Bank and UBS Investment Bank to achieve our spectrum sale objectives.”

As could be expected, NextWave’s stock rose quite a bit in the past few days as talk of the company’s good fortune spread throughout the industry, independent analyst Anton Wahlman wrote today.

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    This article was featured on Business 5.0.

Source: NextWave.