NextWave Looks To Sell Spectrum, Hires Investment Banks

San Diego-based NextWave Wireless, a provider mobile multimedia and wireless broadband technology, said late Wednesday that it has retained Deutsche Bank and UBS Investment Bank, to explore the sale of the firm's spectrum holdings in the United States. Nextwave Wireless said that its spectrum--which covers New York, Los Angeles, Chicago, San Francisco, Boston, Philadelphia, Denver, Houston, and Detroit--reaches over 251 million people. The firm said it would use the sale of its spectrum to strengthen the firm's balance sheet, retire debt, and for the commercial introduction of its WiMax and RFIC chipsets and other products.