A reader asks ,”Is the cell tower on Barnett and First Street necessary after below described transaction between T-Mobile and Verizon?”
Verizon, T-Mobile Agree Spectrum Swap Pending Cable Deal
By Scott Moritz and Todd Shields – Jun 25, 2012 4:32 PM ET
Verizon Wireless, the largest U.S. wireless carrier, agreed to sell airwave licenses to T-Mobile USA Inc., contingent on Verizon completing a $3.6 billion acquisition of spectrum from cable companies.
The exchange will allow Verizon to sell T-Mobile some of the surplus spectrum it will have in certain cities as a result of the SpectrumCo deal, which was proposed by Verizon in December. SpectrumCo is a joint venture of cable companies led by Comcast Corp. (CMCSA), which forged the accord as part of a plan to jointly market services with Verizon.
In the deal, Verizon will swap advanced wireless services, or AWS, spectrum covering 60 million people for airwaves from T- Mobile covering 22 million people plus an undisclosed payment.
The agreement with T-Mobile, which had opposed the SpectrumCo deal, is the second move by Verizon to sell spectrum pending approval of the cable airwaves purchase. In April 18, to help ease approval by the Federal Communications Commission for the SpectrumCo deal, Verizon agreed a sale of 700 megahertz A and B spectrum it bought in 2008.