Nucentrix completes $51 million sale as part of bankruptcy plan

Pittsburgh, June 3 - Nucentrix Broadband Networks Inc. completed part of its joint plan of liquidation by closing the sale of its Federal Communications Commission licenses and related assets to Nextel Spectrum Acquisition Corp. for $51 million in cash Thursday.

Nucentrix's plan was confirmed by the U.S. Bankruptcy Court for the Northern District of Texas on May 3 and is expected to become effective June 10.

Nucentrix common stock will no longer be available for quotation on the Pink Sheets Electronic Quotations Service as of June 9. All outstanding shares of Nucentrix common stock will be canceled June 10 and the transfer books will be closed.

Nextel Spectrum is a wholly-owned subsidiary of Reston, Va.-based Nextel Communications Inc.

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