Federal Communications Commission Approves NextWave Merger with AT&T
SAN DIEGO -- December 20, 2012
NextWave Wireless Inc. (OTCQB: WAVE) (the “Company” or “NextWave”) today
announced that the Federal Communications Commission (the “FCC”) has approved
the transfer of control of the NextWave entities holding Wireless
Communications Service (“WCS”) and Advanced Wireless Services (“AWS”) spectrum
licenses to AT&T Inc. This approval represents the last remaining regulatory
approval required to be obtained under the Agreement and Plan of Merger, dated
as of August 1, 2012 (the “Merger Agreement”), by and among the company, AT&T
Inc. and its direct wholly owned subsidiary, Rodeo Acquisition Sub Inc.
(“Merger Sub”), pursuant to which the company will merge with and into merger
sub with the company surviving as a direct or indirect wholly owned subsidiary
of AT&T Inc. (the “Merger”).
The closing of the merger is expected to occur in the first quarter of 2013,
subject to the satisfaction or waiver of all closing conditions under the
merger agreement, including that the FCC approval has become a final order.
About NextWave Wireless
NextWave Wireless Inc. is a wireless technology company that manages and
maintains wireless spectrum licenses.
This press release contains forward-looking statements for purposes of the
Private Securities Litigation Reform Act of 1995 that involve risks and
uncertainties. There can be no assurances that forward-looking statements will
be achieved. Actual events or results could differ materially from the events
or results predicted by such statements. Important factors that could cause
actual events or results to differ materially, include but are not limited to,
the satisfaction of the conditions to the closing of the merger, and other
factors that are discussed in greater detail in the filings of NextWave with
the Securities and Exchange Commission. All such documents are available
through the SEC’s website at www.sec.gov. NextWave makes no commitment to
update any forward-looking statements in order to reflect subsequent changes
in events or circumstances except as may be required pursuant to applicable
NextWave Wireless Investor Relations
Francis J. Harding
Chief Financial Officer
NextWave Wireless Public Relations
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