Qualcomm Inc (QCOM): Verizon completes NextWave acquisition...

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Thursday, 04/14/2005 2:21:26 PM

Thursday, April 14, 2005 2:21:26 PM

Verizon completes NextWave acquisition
Telecoms.com News
14 April 2005
James Middleton, james.middleton@informa.com

http://www.telecoms.com/marlin/30000000461/ARTICLEVIEW/marlinsource/SITEartappend20017300904/mp_chan...

U.S. operator Verizon Wireless yesterday announced it has completed the transaction whereby it has acquired all of NextWave Telecom's PCS spectrum licenses, in 23 markets around the country, for a total of US$3.0 billion.

The 10 and 20MHz licenses, in the 1.9GHz frequency range, cover a population of 73 million people and 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.