January 12, 2017 / 11:54 AM / 7 months ago

BRIEF-Straight Path settles with the FCC over licenses

Jan 12 (Reuters) - Straight Path Communications Inc

* Straight Path settles with the FCC, now set to move forward with review of strategic alternatives to maximize shareholder value

* Straight Path Communications Inc - Straight Path agreed to pay $15 million in installments over a nine-month period

* Straight Path Communications Inc - Company has retained all of its 28 GHZ spectrum licenses

* Straight Path agreed to pay FCC 20 percent of value received from a sale of its spectrum assets.

* Straight Path Communications Inc- If Straight Path does not announce a transaction within 12 months, it will pay another $85 million to FCC

* Straight Path - Post-settlement, co holds an average of 620 MHZ in top 30 U.S. Markets and covers entire nation with 39 GHZ spectrum

* Straight Path - Settlement with FCC relates to company's wireless spectrum licenses; FCC has ended its investigation of company

* Straight Path Communications Inc - Company also agreed to proceed with its plan to market its spectrum assets

* Straight Path Communications Inc - Has retained Evercore to assist with strategic alternatives process Source text for Eikon: Further company coverage:

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