Subject: [NEXTEL-1] Motient Looks To Offload Some Licenses

From: [email-masked]
Date: Fri, 12 Dec 2003 16:31:49 -0500

Motient Looks To Offload Some Licenses
BY SUSAN RUSH
DECEMBER 12, 2003

Motient Corp. is shedding some of its assets. The wireless data network operator
has reached an asset purchase agreement with Nextel Communications Inc. to
offload some of its radio spectrum.
In a filing with the Securities and Exchange Commission, Motient said Nextel has
agreed to purchase certain of its specialized mobile radio licenses for $2.8
million -- similar to acquisitive moves Nextel historically has used to obtain
spectrum.

"We expect to use the proceeds of the sale of these licenses to fund our working
capital requirements and for general corporate purposes," the provider of eLink
and BlackBerry by Motient two-way wireless data and e-mail services said in the
filing. Motient's lenders have consented to the license sale. The transaction,
contingent on regulatory approval, is expected to close during first-quarter
2004.

Motient emerged from bankruptcy proceedings in August 2002, reducing its debt
from more than $500 million to less than $20 million. In May, the company inked
a deal with Verizon Wireless to become one of the carrier's National Master
Agents for its high-speed data Express Network services, as well as RIM
BlackBerry services and other wireless e-mail solutions.

http://www.wirelessweek.com/index.asp?layout=newsat2direct&starting=2&pubdate=12/12/03

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