updated 05:35 pm EST, Wed November 28, 2012
Financial terms not diclosed; purchase covers 2.1 million customers
Pending FCC approval, wireless service provider Clear Talk has agreed to purchase 10 lower 700MHz B-block licenses covering five markets in Texas, as well as one in Florida, Georgia, Maryland, Nevada, and New Mexico. The announcement is the third, and largest, since Verizon announced the spectrum sale, with Nortex Communications in Texas and Panhandle Telecommunications Systems in Oklahoma each signing agreements.
Since 2011, Verizon Wireless has sold or has agreed to sell 36 of its lower 700MHz spectrum licenses to 10 different telecommunications companies, including the three agreements announced recently. In addition, through its "LTE in Rural America" program, Verizon Wireless is leasing upper 700 MHz C-block spectrum to 20 rural operators to jumpstart the delivery of 4G LTE in rural areas.
Verizon Wireless decided last spring to explore the sale of its lower 700MHz spectrum licenses to consolidate its spectrum holdings and enable more spectrum to reach the marketplace where it can be used for the benefit of customers, as well as to generate income for future expansion and fulfill promises made to the FCC. The company is currently evaluating bids for its other lower 700 MHz licenses, which cover numerous major cities and dozens of smaller markets across the country.