Broadband services provider Windstream has asked the FCC to approve the transfer of its licenses licenses to a restructured company so it can get out of bankruptcy. The approval will require a limited FCC rule waiver for the two-step restructuring Windstream has set up.
Related: Windstream Gets Access to $400 Billion in Financing
The FCC has put that restructuring plan out for comment on whether it should grant the waiver and transfers, with comments due July 9 and replies July 16.
Among Windstream's various businesses is providing 100 Gpbs transport services for cable network and content providers.
The company filed for bankruptcy last February. It has set up the restructuring in two phases. The first phase is so the FCC can sign off on the licenses and it can get out of bankruptcy. Phase one will keep foreign ownership of the company below 25% and no individual foreign investor will have more than a 10% interest. In step two, the FCC would need to approve a higher level of foreign ownership.
Windstream said the public interest would be served by FCC approval, in part because it would become a stronger broadband competitor for both residential and enterprise (business) broadband.
Despite the bankruptcy, Windstream was one of the highest-profile bidders in last year's 24 Ghz 5G spectrum auction.
