Straight Path CEO: Settlement “Allows Us to Move Forward” (Part Two)

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Straight Path Communications is glad to get the FCC investigation behind it and says the company can now move ahead with “with the vast majority of its 39 GHz spectrum fully intact,” said CEO Davidi Jonas, to develop and deploy 5G services. Its 28 GHz licenses were not involved in the investigation into allegations that the company sat on licenses without building facilities and deploying services (see previous story.)

Post-settlement the company holds an average of 620 MHz in the top 30 U.S. markets and covers the country with 39 GHz spectrum, according to Jonas. “We are pleased that we were able to achieve a comprehensive settlement with the FCC, which allows us to move forward as the largest holder of 39 GHz spectrum, with about 95 percent of the total licenses commercially available at this time, as well as a significant holder of 28 GHz in major markets, including New York and San Francisco. These licenses allow us to continue as a leader in the next frontier of telecommunications.”

Though the company agreed to surrender 93 out of 828 licenses in the 39 GHz band, Straight Path says it retains 735 licenses, enough for a “full national network.” With the settlement, Straight Path has “cleared the way for a review of strategic alternatives to maximize shareholder value,” said Jonas; that includes marketing its spectrum assets.  

The company is developing hardware and software for fixed 5G in its Gigabit Mobility Lab in Plano, Texas, under the guidance of CTO Jerry Pi, considered a pioneer in millimeter wave 5G.

January 13, 2017

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