Verizon completes trio of 700MHz spectrum sales

18 Feb 2013

Verizon Wireless has announced that it has completed the sales of three separate 700MHz spectrum blocks following initial agreements late last year. Nortex Communications and Panhandle Telecommunication Systems closed on their respective purchases this week, while Colorado Valley Communications completed its acquisition on 16 January 2013. Nortex Communications, based in Muenster, Texas, acquired the ‘Texas RSA 6-Jack’ 700MHz ‘Lower B-block’ licence, which covers a four-county area northwest of Dallas. Panhandle Telecommunication Systems, based in Guymon, Oklahoma, acquired the ‘Texas RSA 2-Hansford’ 700MHz ‘Lower B-block’ concession, which covers twelve counties in the north-west part of Texas. Meanwhile, Colorado Valley Communications purchased a ‘partitioned A-block licence’ covering a five-county area in the Houston market.

As previously reported by TeleGeography’s CommsUpdate, in August 2012 Verizon indicated that as many as 64 companies had expressed an interest in buying its 700MHz Lower A- and B-block spectrum. The mobile giant deemed the frequencies surplus to requirements, and sought to offload them as soon as the Federal Communications Commission (FCC) formally approved its long-running USD3.9 billion purchase of a nationwide allocation of AWS spectrum from SpectrumCo, a joint venture between cablecos Comcast Corporation, Time Warner Cable and Bright House Networks. As a result of the ongoing sale process, Verizon notes that it has now 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.