San Diego Reader

NextWave Wireless today (July 19) got a limited waiver on its obligation to repay $129 million of debt. But the waiver expires August 1. On Monday, NextWave had said it would have to go belly up if it couldn't renegotiate terms with lenders. The company holds wireless spectrum licenses. San Diego hotelier Doug (Papa Doug) Manchester holds 5.1% of the stock, according to the proxy statement of April 21. He formerly owned much more. The stock closed today at 29 cents. However, the shares underwent a 1 for 7 reverse split last year.