Subject: [NEXTEL-1] MOTIENT CORP Sells Licenses To Nextel-

From: [email-masked]
Date: Thu, 11 Dec 2003 23:20:27 -0500

Form 8-K for MOTIENT CORP

11-Dec-2003

Other Events
Item 5. Other Events
Sale of SMR Licenses to Nextel Communications, Inc.
On December 9, 2003, our wholly owned subsidiary, Motient Communications Inc.
("Motient Communications"), entered into an Asset Purchase Agreement with
certain wholly owned subsidiaries of Nextel Communications, Inc. (collectively,
"Nextel"), under which Motient Communications will sell to Nextel certain of its
Specialized Mobile Radio licenses issued by the Federal Communications
Commission. These licenses are not necessary for Motient's future network
requirements. Under the Asset Purchase Agreement, Nextel will pay $2,750,000 for
the licenses. The closing of this transaction, which is subject to customary
conditions including obtaining the FCC's approval of the transfer of the
licenses, is expected to occur in the first quarter of 2004.  We expect to use
the proceeds of the sale of these licenses to fund our working capital
requirements and for general corporate purposes. The lenders under Motient
Communications' term credit agreement have consented to the sale of these
licenses.

http://biz.yahoo.com/e/031211/mncp.pk8-k.html

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