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Mr. Symington, has served as a director of the Company since its inception. Mr. Symington joined Avenue Capital Group in 2005 and is the Senior Portfolio Manager for Avenue’s U. S. Funds. Mr. Symington, through his prior management positions at M.D. Sass Investor Services and Resurgence Asset Management, was an early investor in NextWave Telecom. Mr. Symington is also serving on the Board of Directors of Trump Entertainment Resorts, Inc., a holding company which manages hotels and casinos in Atlantic City, New Jersey.
Mr. Symington brings to the board a great deal of familiarity and experience with our Company and our business as a result of having served as a director since our inception. Mr. Symington has a wide range of knowledge of our business and our growth and development as a result of his prior management positions at M.D. Sass Investor Services and Resurgence Asset Management, which were early investors in NextWave Telecom. Mr. Symington is a Senior Portfolio Manager at Avenue Capital. As of January 1, 2011, Avenue Capital and its affiliates held shares representing approximately 33.9% of our issued and outstanding common stock, approximately $93.5 million, or 75.1% of the aggregate principal amount of our 7% Senior Secured Notes due 2011 (the “Senior Notes”), approximately $129.9 million, or 78.1% of the aggregate principal amount of our Second Lien Notes and approximately $168.8 million, or 28.2% of the aggregate principal amount of our Third Lien Notes. Mr. Symington dedicates substantial time to Board matters, serving as a member of our Compensation Committee, of which he also serves as chairman.