Reported on: August 03, 2012 11:37 AM
Reported in: Technology
NEW YORK, Aug 3 (AP/UNB) — AT&T says it has agreed to buy NextWave Wireless Inc., a company that holds the right to use sections of the wireless spectrum that could be used for broadband.
AT&T Inc. said Thursday that it is paying up to $600 million, most of which will go toward paying off NextWave debt. The price also includes $25 million for the shares and an additional $25 million if certain conditions are met.
The deal could give AT&T more room on the airwaves for wireless broadband, but there are unresolved problems with some of NextWave's radio bands. They lie close to frequencies that are used for satellite communications, and interference concerns have prevented them from being used.
AT&T has asked the Federal Communications Commission to approve a solution that it says would prevent interference.