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Bill Introduced To Void Disputed Spectrum Sale

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May 16, 2002, 5:32 PM by (staff)

Several lawmakers unveiled a measure late on Wednesday that would allow Verizon Wireless and other mobile telephone carriers to withdraw from buying expensive wireless licenses they won in an auction. Verizon Wireless and other companies bid in early 2001 for licenses that a court later said belonged to bankrupt NextWave Telecom Inc. The companies still have about $400 million on deposit with the Federal Communications Commission. The U.S. Supreme Court has agreed to rule on whether the FCC could repossess the licenses from NextWave because it failed to pay for them on time, but a decision is not expected for about a year and other legal challenges could emerge.

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