Verizon Wireless Announces Spectrum License Sale

Verizon Wireless announced plans to sell all of its 700 MHz A and B spectrum licenses, covering dozens of major cities across the country, as well as a number of smaller and rural markets. The company described the sale as a rationalization of its spectrum holdings. Its nationwide LTE network uses 700 MHz upper C spectrum. Verizon Wireless is also seeking to acquire additional AWS (Advanced Wireless Services) spectrum licenses from cable operators. It plans to use this AWS spectrum in conjunction with its 700 MHz upper C band spectrum to deploy additional LTE capacity. Therefore, the plans to sell the 700 MHz A and B spectrum licenses are contingent upon completing the AWS deal, which is currently under review by the FCC and Department of Justice.

Verizon Wireless obtained the 700 MHz A and B licenses, as well as nationwide 700 MHz upper C licenses (with the exception of Alaska which has since been acquired), in FCC Auction 73 in 2008.

The sale will be managed by Stephens Inc., an independent financial services firm based in Little Rock, Arkansas.

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