GLEN ALLEN, Va.--(BUSINESS WIRE)--Straight Path Communications Inc. (NYSE MKT: STRP), a communications asset company, was prominently recognized in the FCC Notice of Proposed Rule Making (NPRM) in the matter of Use of Spectrum Bands Above 24 GHz for Mobile Radio Services, released by the FCC last week on October 23, 2015.
The NPRM follows the FCC Notice of Inquiry (NOI) released October 17, 2014. In the NOI the Commission sought to develop a record regarding the use of millimeter waves for flexible services, including mobile broadband.
The Commission expressed its position that there are four main criteria in evaluating the suitability of mmW bands for mobile use in the NPRM: the bands should have at least 500 MHz of contiguous spectrum; the bands should be under consideration internationally for mmW mobile services; mobile use on the bands would be compatible with existing incumbent license assignments and uses, and the bands should be appropriate for establishing a flexible regulatory framework that accommodates as wide a variety of services as possible.
The bands included in the NOI that are now being considered in the NPRM are 39 GHz (38.6-40.0), 28 GHz (27.5-28.35, or LMDS A1), 37 GHz (37.0-38.6), and 60 GHz (64.0-71.0). Other bands were considered in the NOI and not included in the NPRM.
The Commission proposed that the 39 GHz and 28 GHz bands be governed by rules that provide licensees with the flexibility to conduct fixed and/or mobile operations.
Straight Path is the largest holder of geographic area licenses in the bands under consideration in the NPRM. In the 39 GHz band, Straight Path’s holdings cover the entire U.S., with an average of over 800 MHz in the top 30 markets, and a total of over 200 Billion MHz-pops or over 95% of population coverage. Straight Path also holds substantial 28 GHz licenses, including in certain key markets such as NYC and San Francisco, and has a total of about 23 Billion MHz-pops or 11.5% of the population coverage.
Davidi Jonas, CEO of Straight Path, commented, “The NPRM, while not the final step, is another important milestone for our Company. We have been working toward this recognition of our 39 GHz and 28 GHz spectrum and are pleased that the Commission has taken this step and validated our position. The regulatory process is long and is not free of potential pitfalls, but we look forward to continuing our efforts to realize the value inherent in our spectrum to foster better communications technology and capabilities in the U.S.”
The NPRM can be accessed at:
About Straight Path Communications Inc.
Straight Path (NYSE MKT: STRP) holds, leases and markets its extensive holdings of 39 GHz and 28 GHz fixed wireless spectrum licenses through its Straight Path Spectrum subsidiary. Straight Path holds, licenses and conducts other business related to certain patents through its Straight Path IP Group subsidiary. Additional information via our websites: Corporate: www.straightpath.com Spectrum: www.straightpath39.com
In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate, "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our Annual Report on Form 10-K for the fiscal year ended July 31, 2014 and our other periodic filings with the SEC (under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"). We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.