FCC Returns $1.5 Billion to Verizon over Disputed Radio Frequencies.

Knight Ridder/Tribune Business News,  April, 2002  

Tags: FCC, Hackensack, radio, radio frequency, Verizon Communications Inc.

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By Brendan January, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News

Apr. 30--Verizon Wireless Inc. said Monday that the Federal Communications Commission has returned $1.5 billion the company paid in an auction for disputed radio frequencies held by NextWave Telecom Inc.

Verizon Wireless, the nation's largest mobile phone company, bid $8.7 billion in February 2001 for the licenses held by the now bankrupt NextWave.

U.S. mobile-phone carriers bid a total of $15.9 billion to control the licenses, as they sought to boost service quality and introduce new ...

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