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Verizon Wireless Paying $3.6 Billion to Buy Additional Radio Spectrum

Verizon Wireless has announced that it is paying US$3.6 billion to buy up a chunk of radio spectrum. The spectrum, which comprises of 122 Advanced Wireless Services spectrum licenses is being sold by SpectrumCo, a joint venture between Comcast , Time Warner Cable, and Bright House Networks.

Comcast owns 63.6% of SpectrumCo and will receive approximately $2.3 billion from the sale. Time Warner Cable owns 31.2% of SpectrumCo and will receive approximately $1.1 billion. Bright House Networks owns 5.3% of SpectrumCo and will receive approximately $189 million.

The licenses, nearly all of which cover 20MHz of spectrum, are in markets covering 259 million person of population (POPs). Fitch Ratings noted that the acquisition is expected to extend the adequacy of Verizon Wireless' spectrum position in a significant number of markets to beyond its previously stated date of approximately 2015.

The acquired spectrum will also complement Verizon Wireless' existing AWS spectrum portfolio, which is located east of the Mississippi River.

The companies also announced that they have entered into several agreements, providing for the sale of various products and services. Through these agreements, the cable companies, on the one hand, and Verizon Wireless, on the other, will become agents to sell one another's products and, over time, the cable companies will have the option of selling Verizon Wireless' service on a wholesale basis. Additionally, the cable companies and Verizon Wireless have formed an innovation technology joint venture for the development of technology to better integrate wireline and wireless products and services.

SpectrumCo's sale and transfer of its advanced wireless spectrum to Verizon Wireless is subject to approval by the Federal Communications Commission and review under the Hart-Scott Rodino Act and other customary conditions.

Источник: Cellular news

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