Verizon Wireless Seeks Approval From U.S. for Airwaves Purchase
December 21, 2011, 11:14 AM ESTBy Todd Shields
Dec. 19 (Bloomberg) -- Verizon Wireless asked the U.S. to approve its $3.6 billion acquisition of airwaves from cable companies Comcast Corp., Time Warner Cable Inc. and closely held Bright House Networks LLC.
The transaction will help Verizon Wireless add capacity to meet increasing demand for high-speed mobile Internet devices, the Basking Ridge, New Jersey-based wireless company said in a filing today with the Federal Communications Commission.
Verizon Wireless, the largest U.S. wireless carrier, proposes buying licenses in 120 markets, according to the filing. Verizon and the cable companies will market and sell each other’s services under the agreement announced Dec. 2.
The FCC and Justice Department are likely to approve the deal, though they may require the sale of assets in certain markets, said Jeff Silva, senior policy director for telecommunications, media and technology at Medley Global Advisors LLC in Washington.
Verizon Communications Inc. co-owns Verizon Wireless with Vodafone Group Plc.
AT&T Inc., the second-largest U.S. wireless operator, proposed adding capacity through buying T-Mobile USA Inc. The Justice Department sued to block the deal.
--With assistance from Alex Sherman in New York. Editors: Steve Walsh, Andrea Snyder
To contact the reporter on this story: Todd Shields in Washington at tshields3@bloomberg.net.
To contact the editor responsible for this story: Michael Shepard at mshepard7@bloomberg.net
