Verizon Wireless, facing the loss of $8.8 billion worth of licenses to deploy new and expanded service, has held preliminary talks with NextWave Telecom Inc. on a possible settlement that would allow Verizon to retain the licenses, an industry source said.
A U.S. appeals court ruled last week that the Federal Communications Commission illegally repossessed 90 licenses from NextWave after the company failed to make timely payments. The agency had broken up the licenses and resold them to companies, including Verizon, the biggest U.S. wireless carrier.
