FCC approves Verizon’s cable spectrum purchase

Dan Graziano
Verizon just announced a major upgrade that will make its LTE network even better

The Federal Communications Commission on Thursday officially approved Verizon Wireless’ $39 billion deal to acquire AWS spectrum licenses from a consortium of cable companies. The Commission also signed off on a spectrum swap with Leap Wireless (LEAP) and an additional transaction that will see a number of AWS holdings transferred to T-Mobile. According to the FCC’s press release, Verizon (VZ) must complete its spectrum transfer with T-Mobile within 45 days of closing the deal with the cable companies. The carrier must also provide service to 30% of the areas covered by its newly acquired spectrum within three years, and 70% of the areas covered within seven years. Lastly, Verizon will have to continue to offer roaming agreements for five years in areas where it is acquiring the AWS spectrum.


Related stories

Almost half of U.S. consumers think 4G LTE is unnecessary

Four major U.S. carriers team up to form Mobile Payments Committee

Cell phones are being monitored more than ever before

Get more from BGR.com: Follow us on Twitter, Facebook