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Verizon to Purchase Wireless Spectrum License for $3.6 Billion

12/05/11

Verizon To Purchase Wireless Spectrum License For $3.6 Billion


Verizon Wireless has decided to purchase wireless spectrum licenses for $3.6 billion, from SpectrumCo, a group of cable carrier. With the deal, Verizon's bandwidth capacity will increase and eventually let Comcast and Time Warner Cable companies pack Verizon's wireless service with their own contributions. Debevoise & Plimpton has taken the lead in advising Verizon on the matter. Davis Polk & Wardwell will be representing Philadelphia-based Comcast on the sale. Time Warner Cable turned to Paul, Weiss, Rifkind, Wharton & Garrison for advice.

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