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.