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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: March 13, 1995
AT&T Corp.
A New York Commission File I.R.S. Employer
Corporation No. 1-1105 No. 13-4924710
32 Avenue of the Americas, New York, New York 10013-2412
Telephone Number (212) 387-5400
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Form 8-K
March 13, 1995 AT&T Corp.
Item 5. Other Events
On March 13, 1995, the Federal Communications Commission ("FCC")
announced the conclusion of the broadband Personal Communications Services
("PCS") auction commenced on December 5, 1994. The auction involved a total
of 99 PCS licenses in 51 Major Trading Areas ("MTAs") authorizing service on
30 MHZ of spectrum in the 1.8 GHz band. At the start of the auction, AT&T
Corp. ("AT&T") was eligible to bid in 30 MTAs.
AT&T bid a total of $1.685 billion to win broadband PCS licenses
covering 21 MTAs.
As a winning bidder, AT&T is required to submit to the FCC a down
payment equal to 20% of the $1.685 billion (less the $78 million AT&T
deposited with the FCC to register for the auction) by March 20, 1995. AT&T
also must submit to the FCC an application for a broadband PCS license in each
MTA where it has been declared the winning bidder within ten business days
from the close of the auction. Other interested parties will have the
opportunity to file petitions with the FCC commenting upon or challenging
AT&T's applications. After a review of the applications and the conclusion
of the public comment process, the FCC will determine whether there are any
reasons precluding it from granting the licenses; if there are none, it will
grant the licenses. The remainder of AT&T's winning bid amount is due within
five business days after the grant of each license.
AT&T is required to provide adequate service to at least one-third of
the population in its licensed areas within five years of being licensed and
two-thirds of the population in its licensed areas within ten years of being
licensed. The licenses are granted for ten year terms from the original date
of issuance and may be renewed by AT&T by meeting the FCC's renewal criteria
and upon compliance with the FCC's renewal procedures. Construction of the
network to support these licenses will require substantial capital
expenditure, the level of which is dependent on a number of factors which have
not been determined at this time.
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Form 8-K
March 13, 1995 AT&T Corp.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
AT&T Corp.
By: S.L. Prendergast
Vice President and Treasurer
March 16, 1995
