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Stocks In The Dog House: AT&T
Check Out the Comments Near the Bottom
https://seekingalpha.com/article/4122888-stocks-dog-house-t?v=1510592946&comments=show
I don't think the FCC can ignore the shareholders and the fraud that was committed against them and the unsecured creditors.
DOCOMO Achieves 12-Channel MMT Transmission of 8K Video via 5G System
OKYO, JAPAN, November 7, 2017 --- NTT DOCOMO, INC. announced today that it succeeded in 12-channel MMT (MPEG Media Transport) transmissions of 8K video using fifth-generation (5G) mobile technology during a test conducted on November 1 at its Yokosuka R&D center in collaboration with Sharp Corporation.
Transmission of compressed 8K video, the next generation of ultra-high definition video, requires a data rate of 80 Mbps on average per channel. In the case of current LTE mobile technology, it is difficult to achieve such a data rate for the stable, multiple-channel transmission of 8K video. In the recent test, however, ultra-high speed, large-capacity 5G communications using MMT technology successfully transmitted stable multi-channel 8K video with a high bit rate to multiple devices.
Radio waves for wireless communications are constantly influenced by obstacles such as buildings, trees and terrain, and well as reflective objects, so reception errors are inevitable. In the recent test, however, an 8K video receiver with error detection/correction function was used in additional to error correction performed in the wireless layer of the 5G wireless transmission equipment, enabling the 8K video to be displayed with minimal disturbance.
DOCOMO provided the 5G wireless system and video content while Sharp provided the ultra-high definition video transmission/display environment using 8K decoders and 8K displays. Also, the Japan Broadcasters Association supported 8K video encoding and MMT encoding.
The successful results of the test will be exhibited during an event, Mietekita Chotto Saki no Mirai (A Peek into the Near Future), which will be held at the National Museum of Emerging Science and Innovation (Miraikan) from November 9 to11.
Going forward, DOCOMO plans to further test 8K video transmission via its 5G system, targeting commercial services for sports, surveillance, etc. that would deliver high-definition video with MMT-enabled synchronization to diverse devices and displays.
Let me get this straight, Fibertower spends hundreds of millions of dollars on developing spectrum licences they tell the bankruptcy court are completely worthless ??? While in the same vein, they, Fibertower continue appeal to the FCC to get these licenses back.
FiberTower’s industry-leading investments and spectrum development
activities, even in the absence of universal construction and transmission, are sufficient to demonstrate that it “responsibly develop[ed] the spectrum [it] ha[d] been assigned.”66
As the record reflects, FiberTower blazed the trail for service in these high-frequency bands, investing hundreds of millions of dollars in the infrastructure and technology necessary to successfully
deploy this spectrum, in addition to making its spectrum available for lease.67
Accordingly,
all 689 of FiberTower’s licenses should be renewed under the substantial service regulations.
As the record shows, FiberTower was able to
provide meaningful services with a number of its licenses only after it assumed significant risks and invested hundreds of millions of dollars in order to develop viable equipment and the infrastructure
necessary to support a nationwide network. By contrast, most other licensees in this spectrum simply returned their licenses to the Commission, while evidence indicates that those
who submitted construction notifications largely constructed save-builds for the sole purpose of preserving their licenses (if they constructed anything at all).54
And yet, under the Commission’s
substantial service standard, FiberTower’s extensive, bona fide investment efforts, which yielded
tangible and meaningful results, were rewarded with automatic cancellation of nearly all of its
licenses.
5G trial fires video into car
http://www.techradar.com/news/5g-trial-fires-video-into-car
TheDCNF reached out to Pai to see what the FCC specifically is doing “to realize the 5G future.”
“Under Chairman Pai’s leadership, the FCC is focused on making available more spectrum for 5G as well as making it easier for carriers to deploy the substantial amount of physical infrastructure necessary for 5G networks,” FCC Press Secretary Tina Pelkey told TheDCNF. “These policies will help bring about faster wireless networks for American consumers and businesses.”
The value of the 692 licenses during the time of the Fibertower bankruptcy reorganization plan one could argue should have no bearing on what parties would be entitled to a property recovery if the FCC reversed course at a later date and returned the property assets. The licenses are currently held by the FCC, the reorganized Fibertower time element argument in shutting out unsecured bondholders and shareholders to a potential recovery fails to demonstrate why this action was needed in order for the reorganized Fibertower to operate their scaled down operations.
Verizon Wireless files for a 6 month market trial of 28 GHz mobile technology in New Jersey
https://apps.fcc.gov/oetcf/els/reports/STA_Print.cfm?mode=current&application_seq=81053&RequestTimeout=1000 … https://apps.fcc.gov/els/GetAtt.html?id=200719&x= ….
Verizon Wireless files for a 6 month market trial of 28 GHz mobile technology in New Jersey
https://apps.fcc.gov/oetcf/els/reports/STA_Print.cfm?mode=current&application_seq=81053&RequestTimeout=1000 … https://apps.fcc.gov/els/GetAtt.html?id=200719&x= ….
Mike Dano? @mikeddano 23h23 hours ago
More
AT&T pledged to run all of its video through this platform eventually, shuttering satellite DTV and Uverse
http://www.fiercecable.com/tech/at-t-directv-now-2-0-coming-first-quarter-2018
It would seem that The FCC has a Fibertower shareholder liability problem should they do a complete 180 and allow a clean transfer of the 692 spectrum licenses to AT&T / reorganized Fibertower.
As of right now AT&T can only get their hands on the 46 licenses that the reorganized Fibertower controls, provided the FCC approves AT&T's purchase of the company.
The Crown Jewels, the 692 licenses that the reorganized Fibertower has an interest in, they are still controlled by the FCC.
Another possible factor for the continued interest / postings on this message board is the perception that the secured creditors rigged the Fibertower Bankruptcy for their sole benefit. Had it not been for the FCC, unsecured bondholders & shareholders would have no shot @ any funds recovery.
One reason for the continued interest in Fibertower stems from the 8 million shares of stock controlled by Art Samberg
Stakeholders / Shareholders may not get a dollar for dollar recovery of funds, however the chance of 50 to 80 percent is possible given that the FCC is not legally bound by the Bankruptcy Court Fibertower Reorganization Plan.
And while the reorganized Fibertower is protected from being sued by the unsecured creditors and shareholders, the FCC and AT&T is not.
The bankruptcy court protected the potential ownership rights of the 692 licenses for the reorganized Fibertower while also agreeing to the cancellation of the rights of unsecured creditors and shareholders to have any interest in the 692 licenses based solely on a monetary value calculation
Given that the possession of the 692 licenses remains in the hands of the FCC, the act by the bankruptcy court to eliminate one ownership interest class over another should not be binding on the agency that oversees the ownership of licensed spectrum property. And since the FCC and their legal team has been made aware of the bankruptcy court circumstances, the agency would be guilty of wilful blindness if they were to just rubber stamp the transfer of 692 spectrum licenses to AT&T.
And this is a very unique case, since the property in question has soared in value since the bankruptcy court stay, far exceeding the current debt on the books. And most importantly, has remained in the hands of the FCC
Because of the license transfer requirements, I don't think the bankruptcy court can eliminate a potential property owner class when said property in question is still in dispute with the regulator of the property.
I think they were, facts are facts, and the facts stated by Levy / Fay were on the mark and all shareholders would agree to co sign the petitions.
Sandpaints Wednesday, 04/05/17 07:13:21 PM
You posted this comment below, have you now changed your opinion regarding shareholders being recognized ???
Condoe - more than strange, indeed. A lawyer might argue that was arbitrary and capricious based on the record Mr Sandri himself laid out. What's right for the goose should be right for the gander.
Codesilver - again a great service bringing this document forward.
It would seem that Mr Sandri may have had some help and advice in writing that document - repeating points is slightly different variations as they might be presented in a later court battle if necessary.
Reads like a major headache for the FCC not to follow along with their own rules. The FCC must correct it's course.
Given that the battle ranges over the years of 2012, including the point at which common shares were stopped from trading sometime in 2014, up to the present Buy Out - how can AT&T or Fibertower argue that common shares should not be recognized during that period of time?
"But your Honor, we had large legal bills to pay for fighting the wrongs done to our company by the FCC. We just wanted to recover some of those costs by ejecting the common shareholders who knew we had a good battle to fight. We figure they can afford to pay as much as possible for our legal expenses, because they don't have as much money as we do and we want to keep ourselves whole."
"What's that you said your Honor? Did you say "arbitrary and capricious, and would send a bad message to shareholders by unfairly rewarding malfeasors while punishing those that abide by FCC rules. Fibertower should, accordingly, immediately act upon the remand and reinstate all the common shares again somehow, as related to FiberTower’s 24 GHz and 39 GHz authorizations. Aw Geez, Your Honor.
https://wireless2.fcc.gov/UlsEntry/attachments/attachmentViewRD.jsp?applType=search&fileKey=2112629884&attachmentKey=20120587&attachmentInd=applAttach
I have no idea if the CenturyLink / L3 merger will have any bearing on how the FCC rules on the AT&T and Fibertower deal. And while it's very possible shareholders get nothing based on the approval of the reorganization plan by the bankruptcy court, one can not disregard the potential that given the fact that the FCC controls the 692 licenses they will have a legal viewpoint that supports both the unsecured bondholders and shareholders.
The one thing we both can agree on, is that the 692 disputed licenses are worth far more than zero
Language is important, the reorganized Fibertower has an interest in the 692 licences as provided by the bankruptcy court until the final appeal is heard and ruled upon. The FCC as the regulator in this matter, can rule shareholders also have an interest in the 692 licences simply based on their governing authority.
Future spectrum auctions in the US could be put on hold indefinitely if the Federal Communications Commission (FCC) can’t find a way to comply with a law related to how upfront payments from bidders are held.
During a recent hearing before the House of Representatives’ energy and commerce committee, FCC chairman Ajit Pai (pictured) explained the commission currently has no means of obeying a law which states upfront payments from auction bidders must be held in interest-bearing accounts.
The FCC lacks the ability because “recent regulatory requirements have dissuaded private institutions” from opening special accounts to hold the payments. As a result, Pai said the commission cannot follow the law, and thus cannot move ahead with any large spectrum auction – including mid- and high-band auctions expected ahead of 5G deployments – until the issue is resolved.
A fix proposed by Pai would allow the bidder deposits to be held by the US Treasury, rather than at a bank or the Federal Reserve. A provision to such effect was included in a draft version of an FCC reauthorisation bill recently approved by the House of Representatives’ communications and technology subcommittee. However, the bill still needs to clear the energy and commerce committee before being considered by the House as a whole. The Senate and President would also need to approve the measure before it becomes law.
As reported by Roll Call, energy and commerce committee chairman Greg Walden refused to give a definitive timeline for action, but indicated the committee is planning to “move forward on a pretty expeditious timeline” with the FCC bill.
The FCC wrapped up its most recent spectrum auction earlier this year. The proceeding, which divvied up 600MHz airwaves made available by broadcasters, netted $19.8 billion in winning bids from mobile operators.
Additional Remarks
A second key to our 5G future is infrastructure reform. 5G is going to require a 10- to 100-fold
increase in the number of cell sites in the country. The current regime is not tailored to support this type
of massive, new deployment. It costs too much, and it takes too long. So we need to drive the
unnecessary regulatory costs out of the system, and we need to speed the timeline for obtaining regulatory
approvals.
3
Indeed, I have heard from many of you that far too often exorbitant fees and lengthy timelines are
preventing providers from deploying next-generation networks. That’s why I was disappointed to see, for
example, that last week the Governor of California vetoed a small cell bill that garnered the support of the
state’s legislature. This only increases the necessity, I think, for the FCC to take action.
Additional Remarks
A second key to our 5G future is infrastructure reform. 5G is going to require a 10- to 100-fold
increase in the number of cell sites in the country. The current regime is not tailored to support this type
of massive, new deployment. It costs too much, and it takes too long. So we need to drive the
unnecessary regulatory costs out of the system, and we need to speed the timeline for obtaining regulatory
approvals.
3
Indeed, I have heard from many of you that far too often exorbitant fees and lengthy timelines are
preventing providers from deploying next-generation networks. That’s why I was disappointed to see, for
example, that last week the Governor of California vetoed a small cell bill that garnered the support of the
state’s legislature. This only increases the necessity, I think, for the FCC to take action.
REMARKS OF FCC COMMISSIONER BRENDAN CARR
AT CCA’s 25TH ANNUAL CONVENTION
OCTOBER 26, 2017
In fact, if we get the right policies in place, this transition could mean $275 billion in network
investment, three million new jobs, and a half a trillion dollars added to the GDP.
So how do we get there? How do we ensure that the United States wins the global race to 5G? I
want to talk this morning about three of the key pieces—(1) spectrum, (2) infrastructure, and (3) ensuring
we have the skilled workforce in place to deploy these next-generation networks—before I talk more
broadly about the need for regulatory reform.
First, we need to get more spectrum into the market. This means that the FCC must continue to
pursue an all-of-the-above approach. We need a spectrum pipeline that can deliver a mix of low-, mid-,
and high-band spectrum into the commercial marketplace. And we’ve got to ensure that providers can
choose from a mix of licensed, unlicensed, and shared spectrum bands to meet consumer demand,
whether to connect people or the burgeoning Internet of Things. It is estimated that by the end of 2022,
the number of 5G subscriptions will exceed half a billion worldwide. So it is incumbent upon the FCC to
get more spectrum into the commercial marketplace.
I am pleased to report that the FCC is pressing forward on this front. The agency is working hard
to ensure that wireless providers, including many of CCA’s members, get timely access to the spectrum
they recently purchased through the incentive auction. Chairman Pai announced that the Commission
will be voting to open up additional bands above 24 GHz before the year is out. And the FCC has a
proceeding under way that is looking at broad swaths of spectrum between 3 and 24 GHz. These are all
great steps in the right direction
The won't say it in public, but it seems pretty clear that AT&T will be in a world of short and maybe even long term hurt if they don't get the disputed Fibertower licenses.
First, I don't live in Essex Fells NJ, and secondly AT&T would suffer a major setback if the FCC rejects the Fibertower license transfer. The ?? becomes how does the FCC thread the needle, to release the licenses and provide compensation for themselves, the unsecured bondholders and shareholders.
It would seem to be legally unethical for the FCC to impose conditions on a license transfer that would benefit the agency with cash a settlement without providing compensation for Fibertower unsecured bondholders and shareholders
we are close to a positive decision and that those two parties may know that. CCA and Tmobile both appear to be last ditch hail mary's to get their final pleas and appearance of resistance of effort in the record. By positive, does this mean you think shareholders will see a benefit ???
Loaded with 5G talk, what was not known in 2012, is clearly known today, and that is the overwhelming fact that 24GHz & 39GHz licensed spectrum bands are worth a small fortune.
Well if the FCC justs hands over the 692 disputed licenses to AT&T without providing compensation in some form to unsecured creditors and shareholders, it would seem pointless to even have a FCC legal team.
I believe you're correct Sandpaints, nice to hear your thoughts today on this matter.
yes they are
There's proof cord-cutting is accelerating, here's what that means...
Craig Moffett, MoffettNathanson, discusses AT&T's struggle to maintain customers and other issues faced by big media.
https://www.cnbc.com/video/2017/10/12/theres-proof-cord-cutting-is-accelerating-heres-what-that-means-for-media-stocks.html
AT&T has 6.1 billion shares outstanding, so a 20 to 25 million share increase to pay Fibertower Shareholders would cost the company a fraction of the value of the licences they would be acquiring
A cheap solution for AT&t would be to give each Fibertower shareholder a 1/2 of AT&T Stock for every Fibertower share owned