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T-Mobile USA and Verizon Wireless Announce Radio Spectrum Swap
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T-Mobile USA has announced a deal to swap blocks of radio spectrum with Verizon Wireless in 218 markets across the country. T-Mobile said the purchase will improve its spectrum position in 15 of the top 25 markets in the USA.
The agreement also includes exchanges in a number of markets in which the companies will swap licenses to create more contiguous blocks of spectrum and re-align spectrum in adjacent markets.
Some of the spectrum T-Mobile is acquiring in this transaction include licenses that Verizon is purchasing from SpectrumCo, Cox and Leap, and the agreement is contingent on the closing of those transactions and is subject to regulatory approval by the Federal Communications Commission (FCC) and the Department of Justice.
"This agreement will provide T-Mobile with critical AWS spectrum, enhancing both network capacity and performance and allowing us to meet the growing consumer demand for 4G mobile broadband," T-Mobile CEO and President Philipp Humm said in a statement. "We anticipate FCC approval later this summer, in time for us to incorporate this new spectrum into our network modernization and the rollout of LTE services next year." he added.
T-Mobile will gain spectrum covering 60 million people -- notably in Philadelphia; Washington, D.C.; Detroit; Minneapolis; Seattle; Cleveland; Columbus, Ohio; Milwaukee; Charlotte, N.C.; Raleigh-Durham, N.C.; Greensboro, N.C.; Memphis, Tenn.; and Rochester, N.Y. -- in exchange for spectrum covering 22 million people and an unspecified amount in cash.
Tags: [t-mobile usa] [verizon wireless] [radio spectrum] [USA]
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