Verizon Wireless Prepared to Bid $5 Billion for Spectrum

Verizon Wireless announced that it is prepared to open bidding at $5 billion for 10 MHz of nationwide PCS spectrum in the 1.9 GHz band should the FCC determine to make spectrum in that band available for auction to the highest bidder.



Nextel has been petitioning the FCC to let it exchange some of its existing 800-megahertz spectrum for potentially more valuable spectrum in the 1.9 GHz band. Nextel argues that the FCC has full legal authority to approve the radio spectrum realignment.



Verizon Wireless argues that any such swap would violate FCC rules, federal law and more than a decade of U.S. spectrum policy. The company said Nextel's "interference with public safety channels can be resolved within the 800 MHz band, without grabbing at valuable spectrum that should be put to best public use in an auction."http://www.verizonwireless.comhttp://www.nextel.com