WOODLAND PARK, N.J., April 21, 2020 /PRNewswire/ -- Anterix (NASDAQ: ATEX) today announced that Federal Communications Commission (FCC) Chairman Ajit Pai intends to present a draft Report and Order ("R&O") for consideration by the Commission during the FCC's Open Meeting on Wednesday, May 13, 2020. The R&O is related to the previously issued Notice of Proposed Rulemaking addressing use of the Part 90 900 MHz land mobile band.
"On behalf of Anterix and its employees and our partners, I want to thank Chairman Pai for his decision to bring the 900 MHz Report and Order to a vote. We also wish to thank the staff at the Commission for their hard work on this item, and we look forward to working with the Chairman and Commissioners O'Rielly, Carr, Rosenworcel and Starks to secure adoption of this Report and Order," said Morgan O'Brien, CEO of Anterix. "As the following statements demonstrate, the utility and enterprise ecosystems in the United States are eager to put this spectrum to work fueling industrial 5G and delivering the benefits of secure, innovative, private LTE broadband networks. This decision will lead to new jobs, new investment, and new technology development."
Following are statements from multiple organizations supporting the Chairman's decision to include the 900 MHz Order on the May agenda:
Mark Crosby, President and CEO of the Enterprise Wireless Alliance, noted that the Alliance has shared the Anterix vision from the outset and joined the company in filing the initial Petition for Rulemaking seeking a 900 MHz broadband opportunity. He explained: "We appreciate the Commission's action, for it evidences their realization that business enterprises and critical infrastructure entities are a fundamental component of our country's wireless ecosystem and, like the mission critical and consumer sectors, deserve access to spectrum capable of providing broadband solutions unique to their industrial tasks."
"Southern Linc welcomes the Chairman's decision to circulate an Order that will create a 900 MHz broadband opportunity for utilities and others providing critical services to the American public," said Michael Rosenthal, Director of Legal and External Affairs. "Southern Linc has firsthand knowledge of the tremendous benefits LTE technology can bring to this sector of the economy, supporting grid modernization, the integration of renewable energy sources, enhanced cyber security, and other innovations. Expanding the private LTE ecosystem will lead to reduced equipment costs and a growing portfolio of technology choices for this essential segment of America's infrastructure."
"To enable the grid of the future, the system requires a smarter, stronger and more secure communications network with far greater bandwidth," said John Hughes, Director of Network Engineering for Ameren. "We thank the FCC for considering this action at 900 MHz, as it offers the exact opportunity we seek. Ameren envisions a future where broadband plays a key role in the control and management of our network, providing enhanced communication with co-workers, resulting in a better experience for our customers. Ameren intends to use a private LTE network for a wide range of applications slated to expand over time."
"WIA thanks Chairman Pai for prioritizing action on 900 MHz," said WIA President and CEO Jonathan Adelstein. "The realignment of the band will support 5G deployment and investment in wireless infrastructure, providing access to innovative wireless services."
"Motorola Solutions appreciates the FCC action, which clears the way for a broadband opportunity in the 900 MHz band and lays a foundation for the secure and interoperable communications needed for modern and resilient critical infrastructure," said Scott Schoepel, Vice President, Commercial Markets for Motorola Solutions. "As a long-standing provider of business-critical communications networks and devices, we look forward to working with private enterprise users on 900 MHz solutions that span voice, data, video and IoT to address their end-to-end communications needs."
"As one of the foremost providers of secure networking solutions to utilities and the leader in the migration to digital wireless systems, Cisco looks forward to working with leading utility customers as they deploy 900 MHz private LTE networks." said Todd Gurela, Chief Technology Officer, Industries, Cisco Systems." The FCC's decision to create this opportunity at 900 MHz demonstrates its keen appreciation for the individualized needs of this vital segment of the American economy."
"Sierra Wireless is excited to see the FCC bring another band of spectrum to market to fuel the continued growth of private LTE and Industrial 5G," said Warren Westrup, Director, Utilities Market, Sierra Wireless. "As the leading developer and provider of LTE modules, gateways and routers to the enterprise and utility ecosystem, we look forward to continuing our efforts to expand the technology evolution of these sectors."
A formal agenda for the May Open Meeting along with a copy of the draft R&O is anticipated to be published tomorrow by the FCC, in accordance with the FCC's standard practice of issuing the Open Meeting agenda approximately three weeks prior to its next monthly meeting. The May Open Meeting agenda and associated agenda items can be accessed via the following link https://www.fcc.gov/news-events/events/2020/05/may-2020-open-commission-meeting. The FCC's Open Commission Meeting will be made publicly available via a live webcasting. A replay of the stream will also be made available.
Anterix empowers the modernization of critical infrastructure and enterprise businesses by enabling private broadband connectivity. Our foundational spectrum, as further enhanced through the FCC's proposed rulemaking, enables risk mitigation and meets evolving business needs, with greater cyber security, resiliency and control. Anterix is the largest holder of licensed spectrum in the 900 MHz band, with nationwide coverage throughout the contiguous United States, Hawaii, Alaska and Puerto Rico. Anterix is currently pursuing a regulatory proceeding at the Federal Communications Commission that seeks to modernize and realign the 900 MHz band by allowing it to be utilized for the deployment of broadband networks, technologies and solutions. Our chairman and our CEO co-founded Nextel Communications and have significant experience in telecom operations and innovative spectrum initiatives.
Any statements contained in this press release that do not describe historical facts are forward-looking statements as defined under the Federal securities laws. These forward-looking statements may include, but are not limited to, statements regarding: (i) the required majority of FCC Commissioners will approve the Report and Order; (ii) the terms of the final Report and Order will enable the Company to implement its business and commercialization plans and objectives; and (iii) electric utilities and critical infrastructure providers will agree to lease the Company's spectrum assets. Any such forward-looking statements are based on the Company's current expectations and are subject to a number of risks and uncertainties that could cause its actual future results to differ materially from its current expectations or those implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: (i) the FCC may not approve the Report and Order on a timely basis, or at all; (ii) the terms of the Report and Order may not be favorable or may significantly delay or increase the costs required to commercialize the Company's spectrum assets compared to the timing and costs assumed in its business plan; (iii) even if its FCC initiatives are successful, the Company may not be successful in commercializing its spectrum assets to its targeted customers and markets; (iv) the Company has no operating history with its proposed business plan, which makes it difficult to evaluate its prospects and future financial results, and its business activities, strategic approaches and plans may not be successful; and (v) the Company may not be able to correctly estimate its operating expenses and revenues. These and other factors that may affect Anterix's future results of operations are identified and described in more detail in its filings with the Securities and Exchange Commission (the "SEC"), including its Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2019, filed with the SEC on February 4, 2020. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by applicable law, Anterix does not intend to update any of the forward-looking statements to conform these statements to actual results, later events or circumstances or to reflect the occurrence of unanticipated events.
Contacts Natasha Vecchiarelli Director of Investor Relations & Corporate Communications Anterix 973-531-4397 [email protected]