* Verizon Communications weighed in on a key regulatory issue for its wireless subsidiary, arguing that the Federal Communications Commission would be overstepping its legal bounds if it granted Nextel Communications the airwave licenses it wants. "Proceeding on this course would place the commission's members themselves in direct violation of federal laws . . . some of which are criminal in nature," William P. Barr, Verizon's general counsel, wrote in a letter filed with the FCC late Monday. Verizon Communications owns 55 percent of Verizon Wireless, one of Nextel's rivals. Nextel said it needs replacement airwaves to solve cellular interference problems with fire and police communications systems. Nextel spokeswoman Leigh Horner said in a written statement, "Verizon is so self-interested and anti-competitive that it would threaten FCC Commissioners with personal criminal liability while the needs of public safety hang in the balance."
* Carlyle Group, based in the District, and Providence Equity Partners will each buy a 27 percent stake in PanAmSat, the largest U.S. commercial-satellite operator, for $953 million, or a total of $1.9 billion, according to regulatory filings. Kohlberg Kravis Roberts (KKR) agreed to buy Wilton, Conn.-based PanAmSat from DirectTV Group and other investors in April for $23.50 a share, or $3.53 billion. KKR will keep a 44 percent stake in PanAmSat. Shares of PanAmSat closed down 3 cents, at $23.25.
* MobilePro, a Bethesda wireless technology and broadband Internet company, lost $2.2 million (2 cents a share) in its fiscal year ended March 31, compared with a loss of $9.8 million (45 cents) in fiscal 2003. Revenue was $311,355, compared with no revenue in the previous fiscal year. The revenue reflected the acquisition of EXP Internet Services and Nationwide Internet. MobilePro ended the year with $2 million in cash. Shares closed at 17 cents, down 1 cent.
* Comsat International of McLean said it acquired Florida-based Convergence Communications and its subsidiaries for an undisclosed amount. Convergence sells broadband access, Internet and data solutions in Central America, the Dominican Republic and Mexico. Under the agreement, Comsat will acquire more than 90 percent of the outstanding shares of CCI. The acquisition expands Comsat's network in Latin America, where it currently has 1,300 customers.
Compiled from reports by Washington Post staff writers, Bloomberg News and PR Newswire.