Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Avenue Capital Management II, L.P.
   2. Issuer Name and Ticker or Trading Symbol
NextWave Wireless Inc. [WAVE] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
535 MADISON AVENUE, 15TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
03/28/2007
(Street)

NEW YORK, NY 10022		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Series A Senior Convertible Preferred Stock $ 11.05 (1) 03/28/2007   P   48,739   03/28/2007   (2) Common Stock 4,410,769 $ 1,000 48,739 D (3)  
Series A Senior Convertible Preferred Stock $ 11.05 (1) 03/28/2007   P   20,828   03/28/2007   (2) Common Stock 1,884,887 $ 1,000 20,828 D (4)  
Series A Senior Convertible Preferred Stock $ 11.05 (1) 03/28/2007   P   13,726   03/28/2007   (2) Common Stock 1,242,172 $ 1,000 13,726 D (5)  
Series A Senior Convertible Preferred Stock $ 11.05 (1) 03/28/2007   P   15,241   03/28/2007   (2) Common Stock 1,379,276 $ 1,000 15,241 D (6)  
Series A Senior Convertible Preferred Stock $ 11.05 (1) 03/28/2007   P   1,466   03/28/2007   (2) Common Stock 132,670 $ 1,000 1,466 D (7)  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Avenue Capital Management II, L.P.
535 MADISON AVENUE
15TH FLOOR
NEW YORK, NY 10022		   X   X    
Avenue Special Situations Fund IV LP
535 MADISON AVENUE
15TH FLOOR
NEW YORK, NY 10022		   X   X    
AVENUE INVESTMENTS LP
535 MADISON AVENUE
15TH FLOOR
NEW YORK, NY 10022		   X   X    
AVENUE INTERNATIONAL LTD
535 MADISON AVENUE
15TH FLOOR
NEW YORK, NY 10022		   X   X    
GPC 73, LLC
535 MADISON AVENUE
15TH FLOOR
NEW YORK, NY 10022		   X   X    

Signatures

 Avenue Capital Management II, L.P. By: Avenue Capital Management II GenPar, LLC , its General Partner By: /s/ SONIA GARDNER, Member   03/30/2007
**Signature of Reporting Person Date
 Avenue International, Ltd. By: /s/ SONIA GARDNER, Director   03/30/2007
**Signature of Reporting Person Date
 Avenue Investments, L.P. By: Avenue Partners, LLC its General Partner By: /s/ SONIA GARDNER, Member   03/30/2007
**Signature of Reporting Person Date
 Avenue Special Situations Fund IV, L.P. By: Avenue Capital Partners IV, LLC, its General Partner By: GL Partners IV, LLC, its Managing Member By: /s/ SONIA GARDNER, Member   03/30/2007
**Signature of Reporting Person Date
 GPC 73, LLC By: /s/ SONIA GARDNER, Authorized Signatory   03/30/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The Series A Senior Convertible Preferred Stock is convertible into NextWave Wireless Inc. common stock at a price per share of $11.05.
(2) The Series A Senior Convertible Preferred Stock has no expiration date.
(3) The securities are owned directly by Avenue International, Ltd. ("Avenue International").
(4) The securities are owned directly by Avenue Investments, L.P. ("Avenue Investments").
(5) The securities are owned directly by Avenue Special Situations Fund IV, L.P. ("Avenue Special Situations").
(6) The securities are owned directly by Avenue - CDP Global Opportunities Fund, L.P. ("Avenue Global Opportunities").
(7) The securities are owned directly by GPC 73, LLC ("GPC 73", and together with Avenue International, Avenue Investments, Avenue Special Situations, Avenue Global Opportunities, the "Funds").
 
Remarks:
Remarks: This report is jointly filed by Avenue Capital Management II, L.P. ('Adviser") and the Funds, each of which may be deemed a director of the Issuer by virtue of their relationship with Mr. Symington, a director of the Issuer and an employee of Adviser, the investment adviser to the Funds.

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