Verizon Scores AWS Spectrum for $3.6 Billion
Verizon Wireless today announced that it has agreed to purchase 122 Advanced Wireless Services spectrum licenses covering 259 million POPs for $3.6 billion from SpectrumCo. SpectrumCo is a joint venture between Comcast, Time Warner Cable, and Bright House Networks. Comcast owns 63.6% of SpectrumCo and will receive $2.3 billion from the sale; Time Warner Cable owns 31.2% and will receive $1.1 billion; and Bright House Networks owns 5.3% and will receive $189 million. The companies have agreed to resell Verizon's products and services to their own customers rather than create and run their own wireless network. They also set up an innovation joint venture to explore how best to integrate wireless and wireline services in the future. AWS spectrum lays in the 1700MHz band. Verizon Wireless's CDMA network runs on the 850MHz and 1900MHz PCS bands, and its LTE network operates on 700MHz spectrum. Verizon has not said what it intends to do with this new spectrum, other than to offer "even better 4G LTE products and services" to Americans. Verizon didn't say when it expects the deal to close, and it has to pass regulatory approval, first.
Verizon Sees No More Big Spectrum Grabs In Its Future
Verizon today said it doesn't believe it will need to make any more large spectrum acquisitions following the results of the recent AWS-3 spectrum auction. Verizon netted 181 spectrum licenses at a cost of $10.4 billion.
FCC Awards Spectrum Licenses to AWS-3 Bidders
The FCC today officially granted some winning bidders in the AWS-3 spectrum auction the licenses allowing them to take ownership of the airwaves. The AWS-3 spectrum auction concluded earlier this year, with AT&T, Dish Networks, T-Mobile, and Verizon Wireless the top four bidders.
Verizon Explains Why It Is Refarming PCS Spectrum
Verizon Wireless elaborated today on news it has begun to refarm its PCS spectrum for LTE. Verizon has already deployed LTE on its PCS spectrum in a limited scale across Manhattan and Cleveland, Ohio, with "about 10 other markets" currently in testing.
AT&T, Verizon Dominate AWS-3 Auction
The FCC today published a list of companies that placed winning bids for the AWS-3 spectrum auction. The FCC auctioned off 1,600 licenses, for which 70 companies were competing.