Aloha Partners Is Ready To Ride Wireless Wave; Owns Crucial Airwaves; Investors Hostetter and Townsend already boast communications success.(INTERNET & TECHNOLOGY)

Publication: Investor's Business Daily

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Byline: REINHARDT KRAUSE

Charles Townsend and Amos Hostetter have at least one thing in common: Both have made a bundle in emerging telecom services.

The question: Can do it again?

Townsend, former chief of Providence Journal Communications, started several small, wireless phone companies starting in 1989. By 1998, he had sold them off.

Hostetter did even better. He co-founded Continental Cablevision in 1963. US West Media Group bought that cable firm in 1996 for $10.8 billion. Forbes magazine estimates Hostetter's net worth at $2.3 billion.

Now, Townsend and Hostetter are the key investors in Aloha Partners. The privately held group has spent more than $100 million to buy radio spectrum in the 700 Megahertz...

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