Verizon Wireless completed its purchase of all of NextWave’s PCS spectrum licenses, in 23 markets across the U.S., for $3.0 billion.
The 10 and 20 MHz licenses, in the 1.9 GHz PCS frequency range, cover a population of 73 million people. The purchase price equates to $2.85 per MHz POP. The licenses will be used to expand Verizon Wireless’ network capacity in 22 key existing markets, including New York, Boston, Washington, D.C. and Los Angeles, as well as to expand the company’s footprint into Tulsa, Oklahoma.
The licenses were acquired through the purchase of NextWave Telecom. As a result of Nextwave Telecom’s bankruptcy reorganization, the licenses are that entity’s only assets.
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