ACT We consider a cognitive radio scenario in which two (or more) operators providing services in the same area wish to share the same licensed band of spectrum. This scenario differs from the classical cognitive setup with a primary and a secondary operators, as both operators here are instead on an equal footing. The operators face the choice of competition or cooperation in the way they choose their transmission parameters (here beamforming vectors) to communicate with their respective users. We build on interesting recently published work [5] [6] analyzing the gains of cooperation in this context and propose novel techniques for beamforming within this interference channel. The proposed techniques outperform classical non-cooperative game solutions and mimic known cooperative game solutions while introducing a distributed aspect for the algorithm.