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Verizon Announces Northcoast Deal

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Dec 20, 2002, 10:14 AM by (staff)

Verizon Wireless yesterday announced it signed an agreement with Northcoast Communications LLC, to purchase 50 PCS licenses and related network assets, for approximately $750 million in cash. The licenses cover large portions of the East Coast and Midwest, including such major markets as New York, Boston, Minneapolis, MN, Columbus, OH, Providence, RI, Rochester, NY and Hartford, CT. Also included in the transaction are more than 300 cell site locations. The cash transaction is expected to close during the second quarter of 2003.

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