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Federal Communications Commission Approves NextWave Merger With AT&T

Stocks in this article: WAVE

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.

Additional Information

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 law.

Copyright Business Wire 2010

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