People often ask us about Look Communications. What’s up with Look, or what are they going to do with all the spectrum they have? What’s it good for? Well the only reason we at WirelessNorth.ca have held back on answering that question is that we don’t have a frickn’ clue.

Well, here’s some new news. Thanks to Edward for passing this on (He adds “I can’t believe you haven’t reported this yet”)

Look Communications Inc. (“Look” or the “Corporation”) (TSX Venture: LOK and LOK.A) received overwhelming shareholder support today for its Plan of Arrangement which will permit the orderly sale of all or substantially all of Look’s assets, in whole or in part, in order to maximize shareholder value.

1. Spectrum - Approximately 100MHz of contiguous licensed spectrum in Ontario and Quebec covering approximately 18 million people (1.8 billion MHz/Pops);

2. Broadcast License - A Canadian Radio-television and Telecommunications Commission (“CRTC”) mobile broadcast license which has been renewed by the CRTC to August 2011;

3. Subscribers - Approximately 30,000 broadcast and Internet subscribers;

4. Network - A network consisting of two network operating centers (Toronto, Ontario and Montreal, Quebec), 26 one-way broadcast sites and 10 two-way broadcast sites; and

5. Tax Attributes - Approximately $300 million in tax attributes. The Corporation is willing to consider cash, debt, convertible equity, common equity or any combination in exchange for its assets.

As far as we know the spectrum look has (had) is 100MHz (that’s a lot in spectrum terms) of WiMax-ey spectrum in the 2.5Ghz range. And we all know how wimax technology has turned out so far (not so good Aktly). Once they great wireless hope of 2005, wimax has been beset with problems, super-clunky hardware, radio waves that don’t go through buildings so good, mobile-wimax standards and equipment missing in action etc.

Maybe you can do better? We can guarantee that in this economy, Look’s spectrum will come a lot cheaper than the four-odd billion all those cowboys just spent on Canada’s last 100MHz spectrum auction.

What Look appears to be betting on is that it’s assets are worth more apart than they are together within Look. They are betting on the new entrants (but who lets be honest probably aren’t flush with extra cash right now) will need more spectrum to be truly successful in offering any rich data and media applications long term.

They’re also betting on new mobile wimax chipset availability (finally) and future convergence of wimax and 2.5+GHz spectrum and standards with celular 4G technology (it’s supposed to happen).

link: Look CEO’s slidedeck to shareholders pdf