What is nextwave wireless? Nextwave Wireless delivers high speed internet service to rural areas in East Texas. Nextwave Wireless uses new breakthrough wireless technology to bypass the networks of the big cable and phone companies. This is not a cellular or satellite service, but a new, better and faster way to be online.What happened to nextwave spectrum? NextWave's bankruptcy protection lasted approximately ten years, during which time the asset value of the licenses had dramatically increased and NextWave was able to repay the original debt and sell their spectrum assets to Verizon Wireless, Cingular (now AT&T) and MetroPCS.Can nextwave keep their pcs licenses? Ultimately NextWave prevailed in the Supreme Court, 8-1, and was permitted to keep the PCS licenses.