Lynch Interactive Corporation Announces Results of Recent FCC Auction No. 49 of Lower 700 MHZ Spectrum.Business Editors RYE, New York--(BUSINESS WIRE)--June 17, 2003 Lynch Interactive Corporation (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :LIC LIC Low Intensity Conflict LIC License LIC Licenciado (Spanish) LIC Long Island City LIC Life Insurance Corporation of India LIC Licensed Internal Code LIC Local Independent Charities of America LIC Line Integral Convolution ) announced today that Lynch 3G Communications Corporation ("Lynch 3G"), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , was high bidder for four licenses in the Lower 700 MHz Auction No. 49 conducted by the Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. , which closed on Friday, June 13. The markets in which Lynch 3G was the high bidder are Dubuque, IA, Gogebic, MI, San Juan, NM and Chautauqua, NY. The total amount bid for these licenses was $620,000 and the total population covered by these licenses is approximately 1.1 million. Each license represents 12 MHz of spectrum. The grant of the licenses for which Lynch 3G was high bidder is subject to the FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. review process. The Company noted that it had also participated in the prior FCC auction of the Lower 700 MHz (Auction No. 44) in 2002. The San Juan, NM, license, for which the Company had withdrawn its bid in Auction No. 44, was successfully rebid re·bid v. re·bid, re·bid·den or re·bid, re·bid·ding, re·bids v.tr. 1. Games To bid (a previously bid suit) again in bridge. 2. on by the Company in Auction No. 49. Subject to FCC review, the Company now has a total of twelve licenses in the Lower 700 MHz band covering a population of approximately 2.8 million. The Auction No. 44 licenses purchased by the Company are: Reno, NV; Santa Barbara, CA; Des Moines, IA; Quad Cities area of Davenport and Bettendorf, IA and Rock Island and Moline, IL; Las Cruses, NM; Elmira, NY; and two RSAs in the western part of New Mexico. Interactive is a holding company with subsidiaries in multimedia and actively seeks acquisitions, principally in existing business areas. Interactive is listed on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the symbol LIC. The Company's World Wide Web address is: http://www.lynchinteractivecorp.com. This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. As a result, such information is subject to uncertainties, risks and inaccuracies, which could be material. |
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