Due to a reporting error, the story, "AT&T to acquire NextWave for $650M to boost its mobile spectrum," posted to the wire on Thursday, listed the wrong price for the transaction. It is approximately $600 million.
The headline and story have been changed on the wire. The first and fifth paragraphs now read as follows:
AT&T plans to acquire NextWave Wireless, a holder of spectrum that could be used for mobile data services, for about US$600 million.
Most of the price AT&T would pay for NextWave, about $550 million, would be for the company's debt. AT&T would also pay about $25 million for NextWave's equity, plus a contingent payment of as much as $25 million. It expects to close the transaction, pending approval by the FCC and other regulators, by the end of this year.