FCC Likely To Let NextWave Spectrum Bidders Off The Hook

According to some analysts, the rumor is that the FCC is going to let a bunch of wireless carriers (including Verizon, AT&T and VoiceStream) off the hook on bids totalling approximately $16 billion for wireless spectrum in early 2001. This is the NextWave spectrum that has been tied up in court while it is determined whether or not the FCC could reclaim the spectrum from a bankrupt NextWave - or if it's an asset that NextWave could keep in bankruptcy. In the meantime, though, it was creating quite a liability for the various wireless carriers - who can now spend that money elsewhere.