Bill Introduced to Let Carriers Out of Deal - Los Angeles Times
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Bill Introduced to Let Carriers Out of Deal

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Reuters

Several lawmakers unveiled a measure that would allow Verizon Wireless and other mobile telephone carriers to withdraw from buying expensive wireless licenses they won in an auction but are tied up in litigation.

The bill, introduced by Rep. Cliff Stearns, a Florida Republican, would let the companies erase $15.9 billion in debt owed to the government for the January 2001 airwave auction.

The U.S. Supreme Court has agreed to rule on whether the FCC could repossess the licenses from NextWave Telecom Inc., but a decision is not expected for about a year.

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