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The 5G Frontier: Millimeter Wireless
Almost limitless bandwidth beckons—if we can tame a wild region of the spectrum
But in many ways, millimeter-wave wireless truly is a frontier. Today the millimeter band is largely uninhabited and inhospitable, as signals using these wavelengths run up against difficult propagation problems. Even when signals travel through free space, attenuation increases with frequency, so usable path lengths for millimeter waves are short, roughly 100 to 200 meters. Such distances could be accommodated with the smaller cell sizes envisioned in 5G, but there are numerous other impediments. Buildings and the objects in and around them, including people, block the signal. Rain and foliage further attenuate millimeter waves, and diffraction—which can bend longer wavelengths around occluding objects—is far less effective. Even surfaces that might be conveniently nicely reflective at longer wavelengths appear rougher to millimeter waves, and so diffuse the signal.
So there may be gold in that frontier, but it is going to be very difficult to mine. Nevertheless, you never know until you try. I’m reminded of Marconi’s successful transatlantic transmission in 1901, when physicists insisted that the signal would fly off into space. Recently a team at NYU has been experimenting with millimeter-wave transmission within the urban canyons of New York City. Like the physicists of yesteryear, I would have said that this would never work. But the data show otherwise. They demonstrated a surprising amount of coverage despite the buildings, pedestrian and vehicular traffic, and general chaos typical of dense cities. Granted, there are a number of holes in the coverage, but initial results are encouraging.
http://spectrum.ieee.org/telecom/wireless/the-5g-frontier-millimeter-wireless
While I do tend to agree that shareholders will be a part of the deal ........ I do fear a shareholder shutout
The Sting | 1973
http://video.anyclip.com/movies/the-sting/getting-the-shut-out/
As a condition to confirmation of the Plan, the Bankruptcy Code requires, among other things, that the Bankruptcy Court find that confirmation is not likely to be followed by either a
liquidation or the need for further financial reorganization unless such liquidation or further reorganization is called for by the Plan
I would agree ..... The FCC likely is ready to move on from this fight now that a big time player will be in place to construct a network using the 692 licenses.
It might take a small fight, but I think we cash in here, provide the FCC does allow AT&T to buy the entire license package
I believe your correct, 5G is just the beginning of a revolution in internet high speed, networks 10 years from now will operate at speeds thought to be impossible, that you can take to the bank
Seeking Alpha Comment
darkstar82
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I am hearing the AT&T / Fibertower deal is in the area of $600M to $700M. That is a solid stake in the ground for the proper valuation of StraightPath
http://seekingalpha.com/article/4040952-straight-path-communications-critical-look-5g?v=1488501112&comments=show
Based on what is written below, and to piggyback on comments made by wireless yesterday, the Texas Bankruptcy Court's injunction should protect all parties with a stake in the 692 licenses, not just the reorganized Fibertower
The FCC sought to appeal the Texas Bankruptcy Court’s issuance of the injunction, but on November 6, 2012, the United States District Court for the Northern District of Texas denied leave to appeal, finding that the FCC had not satisfied the grounds for appeal of an interlocutory order under 28 U.S.C. § 1292(a), which means that the Texas Bankruptcy Court’s ruling will remainin place until there is a trial on the merits of the Adversary Proceeding.
the FCC indicated that it would comply with the preliminary injunction issued by the Texas Bankruptcy Court and that it would not seek to re-auction or otherwise dispose of the licenses so
long as the injunction remained in effect
The reorganized Fibertower holds an interest in the 692 licenses
‘Once the holder of a license regulated by
the Commission declares bankruptcy, the commencement
of that bankruptcy case results in shared jurisdiction
over the licenses. . .the Commission exercises jurisdiction
by virtue of its statutorily-granted regulatory authority,
while the bankruptcy court exercises
jurisdiction pursuant to its control over the property of
the estate.’’50
Although the Texas Bankruptcy Court emphasized
the limited nature of the injunctive relief it was granting,
its ruling appears to break ground in at least two
ways: (1) it fundamentally departs from the Commonwealth
Oil standard on success on the merits, and (2) its
theory of shared jurisdiction over the FCC licenses
raises the issue of whether the effect of its injunction is
to diminish the FCC’s regulatory power. For although
the Texas Bankruptcy Court was careful to say repeatedly
in its opinion that it had no expertise or power to
circumvent the FCC’s regulatory authority, its shared
jurisdiction theory bars the FCC from the ultimate exercise
of its regulatory power, cancelling the licenses.
The Texas Bankruptcy Court had no difficulty in finding
that FiberTower faced the risk of irreparable injury
if the FCC cancelled the licenses and reallocated them
to other licensees. It noted that a loss of the licenses
would result in an immediate default in FiberTower’s
right to use cash collateral, and that FiberTower’s ability
to reorganize would likely be doomed; thus, it said,
the risk was ‘‘not speculative, theoretical, or remote.’’51
Moreover, it said that if the FCC cancelled the licenses,
resulting in a failure of FiberTower’s reorganization,
even a subsequent victory on appeal would require
them to spend scarce resources, further jeopardizing
their reorganization prospects.52 On the balance of the
equities, the Texas Bankruptcy Court noted FiberTower’s
risk of irreparable injury, and contrasted it to the
minimal harm that might be caused to the FCC: ‘‘The
possible death of Debtors’ businesses is a consequence
weightier than any harm a temporary stay could cause’’
EMERGENCY MOTION FOR STAY December 5, 2012
In the Order, the Bureau held that FiberTower did not timely
demonstrate compliance with the substantial service requirements for 94
of its 24 GHz Digital Electronic Message Service licenses and 595 of its
39 GHz licenses (the “Licenses”), and denied FiberTower’s request for
extension of time or limited waiver of the substantial service
FiberTower’s successful reorganization in bankruptcy depends upon its
ability to maintain the Licenses.5 Without such authority, FiberTower
cannot plan its future operations, secure the necessary funding to
remain a going concern, or continue providing competitive backhaul or
access services in any market
So here's my question, should the FCC allow the transfer of the 692 licenses to AT&T...... What's our action as shareholders / claim holders
Nicely done Wireless77, all shareholders would agree their is defect in the bankruptcy plan ....... and certainly the bankruptcy plan is not substantially consummated.
No question about it... Plus Art likely has what some might call inside information to remain silent for the time being. The Fibertower Bankruptcy is certainly one for the legal scholars given that a key asset in dispute is increasing in value above the remaining debt level and now is being sought for purchase by a third party, I doubt this has ever occured in this fashion before. So we Watch and Wait.
Wireless, Samberg's last purchase was on 2/2/2012 before the bankruptcy filing on 7/17/2012. His silence on this matter is interesting given it's unlikely he sold any of the shares he did own.
Wireless Players Tout 5G as They Await Next Smartphone Wave
What to expect at the annual Mobile World Congress in Barcelona
While U.S. wireless carriers battle each other by pushing unlimited data plans riding on their vaunted 4G networks, an annual industry gathering in Barcelona next week will be looking to the future.
The more than 100,000 attendees won’t be able to walk very far without seeing or hearing about 5G, the next generation of wireless technology that is still years away, with uses not yet entirely understood.
Missing from the show is Apple Inc.—a perennial no-show—but also absent is any significant new device launch, in contrast to the past three years when Samsung Electronics Inc. used the event to introduce the latest iteration of its flagship Galaxy smartphone. Reeling from a high-profile recall last year, Samsung is planning to unveil its next flagship smartphone in late March.
While carriers tout that 5G tests are producing blazing speeds— AT&T Inc. has projected speeds of 10 to 100 times faster than typical 4G connections—the first standards for the platforms won’t likely be set until next year.
And although limited exhibitions will happen— KT Corp. has long planned to have 5G running when South Korea hosts the Winter Olympics a year from now—real 5G deployments aren’t likely until 2020.
“There will be lots of 5G talk,” said Jan Dawson, chief analyst at Jackdaw Research. “It’s mostly about marketing and positioning at this point.”
Last week, both AT&T and Verizon Communications Inc. highlighted their latest testing of 5G technology, working with equipment makers Nokia Corp. and Ericsson AB. AT&T has hit speeds of 14 gigabits per second in lab tests, and plans trials for later this year. Verizon said it would use 5G technology to deliver home broadband to test customers in 11 U.S. markets by midyear.
The positioning is important for some companies that are looking to get a better foothold in the mobile market. Intel Corp., long dependent on personal computer sales, has stressed this opportunity. At an analyst meeting earlier this month, CEO Brian Krzanich mentioned the term “5G” on 19 different occasions.
“If we don’t hit 5G now, I believe, actually over the next 18 months, we’ll not be in a leadership position,” Mr. Krzanich said.
Unlike previous network overhauls, the shift to 5G technology will bring the network closer to users. It runs on smaller antennas that can attach to lampposts rather than huge towers, shortening the distance signals are transmitted. The change will require massive infrastructure spending: Accenture estimates U.S. operators alone could spend $275 billion over seven years to implement 5G.
Aside from faster speeds, 5G technology will drive down the latency, or the speed at which two devices communicate, to allow almost instantaneous reactions. This would be crucial in uses such as the operation of driverless cars.
Cable companies in the U.S. see an opening for 5G to use their extensive wireline networks. Charter Communications Inc. CEO Tom Rutledge said on a recent conference call that it is “becoming increasingly obvious that our network is the future of communications as new standards like 5G are being developed.”
How these networks are built will also depend on who is building them at a time when many people expect consolidation in the telecom and media sectors to ramp up. For example, Verizon has shown interest in buying Charter, the Journal has reported, in a deal that might affect both companies’ approach to 5G.
“What does the world look like after the next wave of consolidation,” said Blair Levin, a former Federal Communications Commission official who headed up the agency’s 2010 National Broadband Plan. “Technology matters a lot, but the market structure is also pretty important.”
I think the key player for common shareholders is the the unsecured creditors... they made the objection to the bankruptcy plan and they have the legal folks in place to seek a reopening of the bankruptcy plan. It's clear that the reorganized Fibertower would like the influence of AT&T to settle the dispute over the 692 licenses. This information alone should be a favorable development for all injured parties in the Fibertower Bankruptcy Case, provided the FCC does agree to transfer of all the licenses to AT&T, if that happens then other legal actions can be taken, or even a settlement offer could be made as more facts are forced to be disclosed regarding the transaction. All parties know this, the 692 disputed licenses are worth far more then zero
5G phones are coming earlier than you thought
A standards body says the next-generation wireless network can hit a deadline of 2019 instead of 2020.
5G's coming -- and it will be here faster than predicted.
5G New Radio (5G NR), a flavor of the next-generation wireless network that's expected to be the global standard, should be available for large-scale deployments in 2019, a year earlier than anticipated, nearly two dozen companies said Sunday.
The companies who've vowed to reach a standard for 5G for that timeframe included a mix of wireless carriers, chip providers and device makers -- such as Qualcomm, Intel, AT&T, Sprint and T-Mobile parent company Deutsche Telekom -- that are part of the 3GPP standards group.
"For consumers, this means they're going to get an elevated broadband experience in 2019," Rasmus Hellberg, senior director of technical marketing at Qualcomm, told CNET in an interview ahead of the news, which was announced at the Mobile World Congress tradeshow in Barcelona, Spain.
Many carriers, like AT&T, had pushed for 5G technology to arrive sooner rather than later. The technology is expected to be 100 times faster than our current 4G LTE wireless technology and 10 times speedier than what Google Fiber offers through a physical connection to the home. Experts say it should enable uses like virtual reality and augmented reality, as well as things we can't even think of today. And our phones should get a lot faster.
To that end, Qualcomm on Sunday separately unveiled its first modems that embed technology for 5G, 4G, 3G and 2G connections onto one chip. The processors, part of the X50 5G modem family, will be available in time for 5G NR device deployments in 2019.
Qualcomm in October unveiled its first Snapdragon X50 chip, but that processor only connects to 5G networks based on early standards of carriers like Verizon and Korea Telecom. Phones typically have chips that support older wireless technologies so users don't drop calls or lose data connections when the newer technology's signal is weak. To hook up to an older 4G or 3G network, devices will need a second wireless chip. The initial X50 processor is aimed to appear first in phones in time for the 2018 Winter Olympics in South Korea.
One might also conclude that AT&T's attempt to acquire the 692 licenses is being made through a fence ...... especially since the AT&T is providing no financial details to the cost of the transaction.
Well right now since the reorganized Fibertower have not touched the 692 licenses one could debate their full ownership
As for the value placed on the 692 licenses by the bankruptcy plan, it flys in the face of comments in response to the Petition for Reconsideration filed by FiberTower Spectrum Holdings LL(“FiberTower”).2
PCIA urges the Federal Communications Commission (“Commission” or “FCC”) to grant the Petition because FiberTower’s proposal for the use of its licenses will benefit the public interest by facilitating the deployment of small cell wireless backhaul systems that have the potential to bolster network capacity in the near-term.
The ability to address near-term capacity constraints is vital in the face of increased data
demand on the nation’s wireless networks. Mobile data use is projected to grow approximately 850% by 2017.3
Consumers, businesses and public safety first responders rely on fast,
dependable access to mobile broadband to communicate with one another, stay competitive and to remain safe. Granting FiberTower’s Petition for Reconsideration is an important near-term step to ensure that the middle-mile connections on which wireless networks rely are able to keep pace.
These comments were made in a letter dated June 24 2013
https://wireless2.fcc.gov/UlsEntry/attachments/attachmentViewRD.jsp?applType=search&fileKey=1586517560&attachmentKey=19158990&attachmentInd=applAttach
So does Arthur J. Samberg let 8 million plus shares die on the vine when you consider that they could be worth between 40 to maybe as high as 120 million dollars
Committee’s lead counsel was David Posner
kilpatricktownsend.com
Fibertower is a very unique situation.... Until the FCC decides on AT&T's form 603 all we can do as shareholders is watch and try to organize a plan of action should AT&T successfully acquire the 692 licenses. You would certainly hope the unsecured creditors are watching, since they already have provided an organized objection to the bankruptcy plan with their legal team and may already be preparing an appeal to the bankruptcy plan based on the sale of the licenses to AT&T. As shareholders we want a sale of the 692 licenses to AT&T since it provides a both a dollar value on the licenses and it ends the legal battle with the FCC. What shareholders currently lack is a plan of action to benefit from the sale, a little direction is needed right now.
Terrestar Was a very complex bankruptcy case, and once the bankruptcy was approved and got rolling, their was no way to turn back the clock.
While in the case of Fibertower, the company's value is really in the 692 licenses that remain in pocession of the FCC, so one could argue that the current bankruptcy plan has not been substantially consummated
http://www.pepperlaw.com/publications/section-1144-action-moot-after-findings-of-substantial-consummation-2015-10-16/
The trading volume of Fibertower does not support that heavy hitter theory, what I can tell you is this, I do know some non heavy hitters that did purchased a decent amount of shares. Plus, the owenrship pool of shares entilted to make a post bankruptcy claim may only be 30 million shares / not the 48 million that were outstanding depending on the number of shares left with the stock market maker for Fibertower. While not impossible, a certain amount of effort will be required to cash out on the sale of Fibertower to AT&T.
Wire77.... All would agree that the current approved bankruptcy plan is flawed in how it dealt with the terminated 692 licenses.
As of today, only 46 licenses can be transferred from the reorganized Fibertower to AT&T
AT&T has requested that the other 692 licenses be transferred as well, citing the DC court of Appeals decision to return 42 licenses to Fibertower
in 2015 that did demonstrate completed link construction and service. In the court's opinion, this license construction might be worthy enough to support a construction extension for the remaining 650 licenses that were terminated
However, since the Appeals Court Decision, nothing has changed, the 42 licenses have not been returned just placed in pending status, nor has their been a decision on the terminated 650 licenses.
So as of right now, their is nothing to do but wait for the FCC to decide what happens to the 692 licenses. Then depending on the outcome, you could have a fight over who gets paid for the increase in value of the 692 licenses, certainly unsecured creditors and shareholders, given the flawed bankruptcy plan, have an entitlement augment to compensation provided someone arbitrates on their behalf
Setting the flawed bankruptcy plan a side, the 692 licenses are the property of the unsecured creditors and shareholders
The Fibertower licenses are likely worth anywhere between 3 to 12 billion dollars as it stands right now to a company like AT&T, given the potential of 5G
I know, however, since Fibertower is far less complex bankruptcy case then the Terrestar case, and the fact that 692 licenses are still not in the possession of the reorganized Fibertower, the objection maded by unsecured creditors would seem to support a reexamination of the bankruptcy plan
http://www.thecreditorsrightsblog.com/2015/07/ninth-circuit-holds-that-confirmed-and-substantially-consummated-bankruptcy-plan-is-appealable-to-di.html
July 6, 2015
Ninth Circuit Holds That Confirmed and Substantially Consummated Bankruptcy Plan is Appealable to District Court
If you read the Unsecure Creditor Objection to The Bankruptcy Plan, you will see were it says the reorganized Fibertower has the rights to the terminated 692 licenses, their is plenty of room to fight this aspect of the bankruptcy given that AT&T wants the licenses.
http://docs.bmcgroup.com/fibertower/docs/txnb_4-12-bk-44027_1033.pdf
The Equitable Mootness Doctrine
The Ninth Circuit has developed four factors to determine whether an appeal is equitably moot. They are: (1) whether the appealing party sought a stay of the confirmation order; (2) whether the plan has been substantially consummated; (3) whether the remedy sought will affect third parties unfairly; (4) whether the court can fashion effective and equitable relief without significantly upsetting the confirmed plan. See In re Thorpe Insulation Co., 677 F.3d 869, 881 (9th Cir. 2012
Because the 3 parts do not hinder the current post bankruptcy Fibertower operations, the court could reopen the Fibertower confirmed bankruptcy plan
The company is the terminated 692 licenses, so hopefully the unsecure creditors are still watching....... If the AT&T transaction is in the range of 500 to 600 million, the current bankruptcy plan should not apply, since the 2016 bondholders willfully designed a flawed bankruptcy exit plan that was objected too by the unsecured committee for this very reason.
The 692 are terminated FCC licenses. Can shareholders still make money on the AT&T purchase, sure, but it starts with the unsecured creditors and an appeal of the bankruptcy plan, and secondly, what is the AT&T offer for the 692 licenses
Document 1033 The Official Committee of Unsecured Creditors (the “Objection”) to the Debtors’ Second Amended Joint Chapter 11 Plan.
The Plan is fatally flawed because it is premised upon an unsupported
valuation of the Reorganized Debtors ($8.5 million) that has been used to justify an incredibly large deficiency claim for the 2016 Noteholders ($89.5 million).
The Debtors must also modify the Plan so that value is distributed
appropriately in the event that the Debtors successfully appeal the FCC’s decision to terminate the FCC Licenses
If the appeal is successful, general
unsecured creditors are entitled to share in the value of a reorganized entity if the senior secured creditors’ claims are satisfied.
The Debtors have not satisfied their burden of showing that the
2016 Noteholders are entitled to receive all of the potential upside associated with the Full Portfolio and, based upon the Committee’s analysis, the Debtors will be unable to do so.
If you read this document in the link below .... it refers to document
1078..... & only 3 licenses not 692 it's not the key to making money here
http://docs.bmcgroup.com/fibertower/docs/txnb_4-12-bk-44027_1089.pdf
CodeSilver: all would agree that it's likely AT&T is paying 500 million plus to land all 692 licenses...... In your opinion what has to happen for shareholders to get paid ?????
The Fibertower and AT&T Boys know the release of the dollars involved in the purchase will likely generate a sprint to the courtroom
The Equitable Mootness Doctrine
The Ninth Circuit has developed four factors to determine whether an appeal is equitably moot. They are: (1) whether the appealing party sought a stay of the confirmation order; (2) whether the plan has been substantially consummated; (3) whether the remedy sought will affect third parties unfairly; (4) whether the court can fashion effective and equitable relief without significantly upsetting the confirmed plan. See In re Thorpe Insulation Co., 677 F.3d 869, 881 (9th Cir. 2012
Because the 3 parts do not hinder the current post bankruptcy Fibertower operations, the court could reopen the Fibertower confirmed bankruptcy plan
Form 603 If you read the notes AT&T is asking the FCC to transfer the 650 licenses to them even thought the current transfer don't allow it
These licenses are shown as “terminated” in the ULS. Because the ULS is
not currently configured to accept filings with respect to these 650 licenses, the Commission should accept and
consider the 650 “terminated” licenses as incorporated in the instant applications for transfer of control
https://wireless2.fcc.gov/UlsEntry/attachments/attachmentViewRD.jsp?applType=search&fileKey=676952455&attachmentKey=20088668&attachmentInd=applAttach
Chapter 11 Discharge..
Although reorganization plans can be modified after confirmation, it is unusual because the debtor in possession begins effecting the plan immediately, making it difficult to change while the plan is operative. By the time the court gets to hear an objection or an appeal, much of the plan will have already been performed, leaving objections or appeals moot in many cases.
However, if an objection or appeal is filed shortly after the plan confirmation, before substantial performance under the plan, the proponent of a plan may modify the plan if the modified plan would meet certain Bankruptcy Code requirements. 11 U.S.C. § 1127(b) A modified post-confirmation plan in a chapter 11 case becomes the plan only "if circumstances warrant such modification" and the court, after notice and hearing, confirms the plan as modified. If the debtor is an individual, the plan may be modified post-confirmation upon the request of the debtor, the case trustee, the U.S. trustee, or the holder of an allowed unsecured claim to make adjustments to payments due under the plan