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 From  1996  to  1997,  NextWave  purchased  dozens  of  wireless  spectrum  licenses  in  FCC  auctions  for  approximately  $4.8  billion.  NextWave  was  entitled  to  pay  over  time  for  the  licenses 
 it  purchased.  Each  license  granted  to  NextWave  by  the  Commission  was  conditioned  on  NextWave’s  full  and  timely  payment  of  all  its  installments,  and  the  licenses  made  clear  that 
 failure  to  make  such  payment  caused  their  automatic  cancellation.  In  1998,  after  making  an  initial  down  payment  of  $500  million,  NextWave  filed  for  bankruptcy  and  refused  to  make 
 additional  payment.  Extensive  litigation  followed  in  multiple  courts,  ultimately  resulting  in  today’s  settlement.  The  FCC  recently  approved  NextWave’s  sale  of  some  wireless  spectrum  to 
 Cingular  Wireless  LLC  resulting  in  $714  million  in  cash  to  the  FCC  and  leaving  NextWave  with  the  balance  of  the  wireless  spectrum  licenses  at  issue  here  (prior  to  this  settlement). 


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