Accord seen with F.C.C. on licenses of NextWave

Article Abstract:

The Federal Communications Commission is close to an agreement on the ownership of a coveted 200 wireless services licenses. NextWave Communications will pay what it owed for the licenses before declaring bankruptcy and will receive about $6 billion from the government auction of the licenses. That government should also net about $10 billion from the licenses bought by Verizon Wireless, Cingular Wireless and AT&T Wireless. When NextWave initially could only pay $500 million for the $4.7 billion worth of licenses in 1996, the FCC repossessed the licenses. Later, a federal court ruled that the FCC had acted improperly. NextWave plans to emerge from bankruptcy.

Radio broadcasting, Frequency allocation (Telecommunications), Radio frequency allocation, Licensing agreements, NextWave Communications

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Winstar bidders are given a week more for financing

Article Abstract:

U.S. bankruptcy judge Joseph F. Farnan allowed Winstar Communications to keep operating so bidders would have at least a week to come up with financing for the nearly-failed telecommunications start-up. By spring of 2000, the company's equity and debt, minus cash was $11.5 billion as its stock peaked at $65 a share. Winstar filed for bankrupct a year later with assets of $4.98 billion and debts of $5 million. In the bidding war, Citibank, J.P. Morgan Chase, CIBC, Credit Suisse First Boston and Bank of New York are highest on the list, each putting up $15 million in emergency financing.

Asset sales & divestitures, Telecommunications, COMMUNICATION, Communications, Broadcasting and Telecommunications, Telephone Communication, Use of Funds, Finance, Practice, WinStar Communications Inc., WCII, Company financing, Farnan, Joseph J.

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Regulators Will Decide Fate of Bid For Mandalay

Article Abstract:

The Federal Trade Commission will address the question of whether a lack of competition among Las Vegas casinos or increased worldwide competitive ability is more important when deciding the fate of the proposed buyout of the Mandaly Resort Group by the MGM Mirage hotel and casino empire.

Legal issues & crime, Acquisitions & mergers, Government regulation, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Hotels & Motels, Hotels (except Casino Hotels) and Motels, Antitrust Law, Legal/Government Regulation, Hotels and motels, Company legal issue, Investigations, Hospitality industry, United States. Federal Trade Commission, Mandalay Resort Group, MBG, Antitrust issue, Kerkorian, Kirk, MGM Mirage Inc.

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