Verizon gobbles up NextWave spectrum

Jul 08 2004 - 04:57 PM ET | Verizon Wireless
Nextel's big deal going down isn't all the spectrum news of the day--another large was pushed through. Verizon Wireless has agreed to pay $930 million for a 10 megahertz slice of spectrum in the 1.9 gigahertz band from NextWave. The spectrum covers parts of New York City and New Jersey. The transaction still needs approval from the feds, but it is expected to go through before the end of the year.