This would totally suck. I just recently got my transverter (http://transverters-store.com/) working and am trying to get my antenna in the air. Personally, I don't see this happening if the ARRL and the other radio societies get involved.
This is akin to shutting down the 27 MHz band for some other purpose, it isn't going to happen unless there is a very good reason for it and no single commercial entity should be able to monopolize a chunk of the spectrum for worldwide use if it is already in use.