Verizon announces three completed 700MHz spectrum sale transactions
It has been a very busy year so far for Verizon Wireless as far as sales of blocks of the 700MHz spectrum is concerned, as revealed by a recent press release that names three different U.S. wireless companies as its most recent just-finished-business customers. This is an indication that the telco is possibly still in talks to keep selling more blocks to customers in order to make the most out of its 2012 AWS purchase.
According to the press release, Verizon managed to close a deal with Colorado Valley Communications back in January for a license to use a partitioned A-Block in the Houston market. Meanwhile, Nortex Communications and Panhandle Telecommunication Systems are two other recent customers that closed deals with Verizon Wireless over similar A Block as well as B Block licenses just this week.
Verizon says that the three announced deals are only the first batch of a total of seven and that four are still pending, so expect to hear more about these deals closing in the future. For more information, feel free to read the full press release below.
Verizon Wireless Completes Spectrum Sales to Three Rural Companies
Verizon Wireless has completed three spectrum license sale transactions following agreements reached late last year as part of the open sale process for its 700 MHz A and B Block licenses. Nortex Communications and Panhandle Telecommunication Systems, Inc. closed on their respective purchases this week. Colorado Valley Communications completed its purchase on January 16, 2013.
Nortex Communications, based in Muenster, Texas, acquired the Texas RSA 6-Jack 700 MHz lower B-block license, which covers a four-county area northwest of Dallas. Panhandle Telecommunication Systems, Inc., based in Guymon, Okla., acquired the Texas RSA 2-Hansford 700 MHz lower B-block license, which covers 12 counties in the northwest part of Texas. Colorado Valley Communications purchased a partitioned A-Block license covering a five-county area in the Houston market.
Verizon Wireless offered its lower 700 MHz spectrum licenses for sale to rationalize its spectrum holdings and enable more spectrum to reach the marketplace where it can be used for the benefit of customers. As a result of the sale process, Verizon Wireless signed agreements with seven companies, including one national carrier, five rural or regional carriers and one minority-owned firm. To date, three purchases have been completed and four remain pending. Verizon Wireless is also getting 700 MHz C block spectrum into the hands of 20 rural operators through its LTE in Rural America leasing program.