U.S. Bankruptcy Court, Newark, N.J., Wed. approved purchase agree...
U.S. Bankruptcy Court, Newark, N.J., Wed. approved purchase agreement by Network Services of one-way paging assets of TSR Wireless. Judge Rosemary Gambardella also signed off on agreement under which Network Services will manage TSR assets until FCC issues final…
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order transferring licenses to Network Services. TSR filed for Chapter 7 liquidation in Dec., laying off most of its 1,700 employees. TSR had provided pagers, cellular, PCS phones, 2-way radios through resellers, direct accounts and retail stores. Assets acquired by Network Services include local, regional and nationwide 900 MHz frequencies, 1,400 transmitters and telephony switches in 31 states. Transaction also includes subscriber base of TSR. “All TSR Wireless’ remaining employees will be retained,” said Brad Scott, Network Services pres. Initial goal of Network Services is to launch nationwide sales and marketing campaign, he said. Network Services provides paging and messaging services as well as local phone services in 3 states and over Internet.