Subject: [NEXTEL-1] Billionaire seeking old pay TV wireless licences

From: [email-masked]
Date: Mon, 22 Dec 2003 15:00:43 -0500

Billionaire seeking old pay TV wireless licences
12/22/03

(WASHINGTON) Craig McCaw, who became a billionaire by building the first
nationwide US wireless company and selling it to AT&T Corp, is seeking licences
for wireless spectrum that has potential for high-speed Internet access.

Mr McCaw disclosed in a regulatory filing that he formed a company called Flux
US Corp in October and acquired rights to a type of spectrum originally
designated for broadcasting pay TV.  Some of the airwaves he acquired serve the
Florida cities of Jacksonville and Daytona.

'Given McCaw's knowledge of the industry and his track record, I would say he
has done a lot of strategic thinking along the lines of some of the enhanced
uses of this old-fashioned spectrum,' said Jay Ireland, a telecoms attorney at
Cole, Raywid & Braverman LLP.

The US FCC is considering rule changes to foster the use of these airwaves -
once used to transmit wireless pay TV -for high-speed Internet and mobile phone
services. The changes could bolster demand for the spectrum, which sold for
pennies on the dollar at bankruptcy proceedings for Nucentrix Broadband Networks
Inc and former WorldCom Inc.

In a filing with the SEC this month, Mr McCaw said he had formed Flux US, based
in Kirkland, Washington, and issued US$14 million worth of Class A common stock
to a pair of investors in New York and Texas.

One potential use for the spectrum is fixed wireless data services, such as
high-speed Internet access. - Bloomberg

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