Verizon Wireless completes spectrum purchase
US carrier Verizon Wireless has secured approval for its purchase of 122 AWS spectrum licences from cable companies Comcast, Time Warner Cable and Bright House Networks for $3.6bn.
It will also complete transactions with Leap Wireless, Savary Island Wireless and T-Mobile, after the US Federal Communications Commission (FCC), approved the deals.
Verizon Wireless said that by buying the AWS spectrum, it can bring even better 4G LTE products and services to its customers.
The US Department of Justice (DoJ) had given qualified approval to the operator’s plan to purchase the spectrum from the cable operators, but stated that the terms of the agreements to offer one another’s services must change. The DoJ said that the plan as hatched “would have harmed competition by diminishing the companies’ incentive to compete.”
Now that the amended deal has been given final approval, Verizon Wireless will move forward with its previously announced plan to sell its 700 MHz lower A and B block spectrum licenses.
“We expect a very robust sales process as more than 65 parties have requested and received information about the spectrum we are selling,” said Dan Mead, president and chief executive officer of Verizon Wireless. “Selling the A and B licenses will allow this spectrum to be used to the benefit of other carriers and their customers.”