Verizon Wireless completes spectrum purchase
Verizon Wireless today completed the purchase of Qwest Wireless' spectrum licenses and certain network assets for $418 million. This deal was
first announced in July 2004.
The purchased spectrum covers 62 markets with a combined population of 30.8 million people. Some of the larger markets include: Phoenix, Albuquerque, Tucson, Salt Lake City, Minneapolis-St. Paul, Denver, Portland (Ore.), Seattle, and Omaha.
Verizon Wireless has been on a spectrum hunting spree:
* Yesterday Verizon Wireless announced a $230 million deal with MetroPCS for a chunk of space over the San Francisco Bay area. The MetroPCS spectrum will be used for EV-DO high-speed data service.
* Nextwave announced plans yesterday to sell its PCS licenses to Verizon Wireless. This will allow Nextwave to come out of Chapter 11 bankruptcy protection and offer 4G mobile services.
