Monday, July 18, 2011
NextWave Considers Bankruptcy
San Diego-based NextWave Wireless, the holder of wireless spectrum licenses, is considering bankruptcy, as it continues to have issues renegotiating with its lenders. According to a filing with the SEC, the firm has informed its creditors of possible bankruptcy rights, as it has so far failed to renegotiate terms with its first lien holders. Last year, NextWave sold its interest in PacketVideo to DOCOMO to raise cash, and was delisted from the NASDAQ. The firm has sold off most of its operating units--which included PacketVideo, IPWireless, and GO Networks-- over the last few years to focus entirely on its wireless spectrum.